Data from a new report from Metrostudy’s first quarter report shows that new home starts in Tampa are up 9.8 percent over the same time last year. The survey shows 2,318 single-family units were started during the first quarter of 2017. The single family quarterly closing rate increased 45.3 percent to 2,482 units in the first quarter compared to first quarter 2016. The increase marks the best quarterly move-in rate since the recession of 2008. The median home price in March 2017 was up 14.5 percent to $214,200 while the median sales price in March for traditional resales was up 9.9% to $220,000. “Job creation, migration, growing workforce, a steady unemployment rate, record level employment and low interest rates all fueled another solid quarter for housing in Tampa,” says Metrostudy Regional Director Tony Polito in a statement. “The quarterly starts pace of 2,318 units was the second best quarter for starts since 1Q07, behind only 3Q 2016.”
