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Saturday, Aug 18, 2018
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Almost half of all homes for sale in Tampa Bay are unaffordable for first-time buyers

Times Staff Writer

Almost half of all homes on the market in the Tampa Bay area are unaffordable for many buyers. According to Zillow, 48.7 percent of homes for sale are "high-end --- more than $348,0000 in Tampa Bay -- while just 20.5 percent are "low-end’’ or under $118,000.

Nationwide, more than half of available homes are considered high-end in their areas while 22 percent are entry-level.

"This year’s home-shopping season is shaping up to be even crazier than last, and sadly, the group that will have the hardest time is first-time and lower-income homebuyers," said Svenja Gudell, Zillow’s chief economist. "These buyers will be competing for the few entry-level homes on the market, which are also the ones appreciating the fastest because of extremely high demand.’’

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