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Tampa outpacing California, New York for home price spikes

Tampa #2 for home price jumps
Posted at 11:06 AM, Mar 29, 2022
and last updated 2022-03-29 11:06:49-04

TAMPA, Fla. — Tampa area home prices continued to explode in January 2022, according to the latest Case-Shiller Home Price Index.

The report found Tampa's year-over-year growth in prices exceeded all but one of the 20 major cities examined. The lone city to exceed Tampa in year-over-year price growth was Phoenix.

Tampa home prices saw a 30.8 percent increase from January 2021 to January 2022, just behind Phoenix at 32.6 percent and just ahead of Miami at 28.1 percent. Nationally, the Case-Shiller Index found a 19.2% annual jump in home prices, up from 18.9% the previous month.

“The strength in home prices continues to be very broadly based," said Craig J. Lazzara, managing director at Standard and Poor's DJI. "All 20 cities saw price increases in January 2022, with prices in 16 cities accelerating relative to December’s report. January’s price increase ranked in the top quintile of historical experience for 19 cities, and in the top decile for 17 of them."

Looking at the month-over-month changes from December to January, Tampa was tied with San Diego, California for second in the nation with the largest jump at 2.6 percent.