TAMPA, Fla. — Tampa's red hot housing market may be starting to cool off, according to a July national housing report released by RE/MAX.
The report found Tampa's home inventory has jumped. The area showed a 134% increase in home inventory.
Despite the number of inventory skyrocketing, closed transactions fell by 23.4%.
Home inventory is not the only thing rising, either.
Median housing costs have shifted from $305,000 to $377,260 in one year alone in the Tampa area. Those numbers lead other major cities like Fayetteville, Arkansas and Raleigh, North Carolina.
Miami saw the fourth highest increase in median housing costs in the nation at 18.7%