How much home values increased in Tampa Bay

Florida home prices show no signs of slowing, despite mortgage rates hovering near 7%, per the latest data from the Federal Housing Finance Agency.

Why it matters: That's good news if you own your home , but tough if you're a would-be buyer on the sidelines.

Zoom in: The Tampa-St. Petersburg-Clearwater metro saw home prices rise almost 7% year over year through the first quarter of 2024, per the latest data from the Federal Housing Finance Agency.

• Meanwhile, North Port-Sarasota-Bradenton saw prices increase by 0.5% in the same period.

Zoom out: Nationwide, prices are up 6.6.% from last year, per the FHFA .

• Some regions are hotter than others: Vermont saw the highest home appreciation in the country with a 12.8% hike, New Jersey (11.6%) and New York (10.9%) weren't far behind.
• Prices declined in Washington, D.C.

The big picture: Low housing inventory is contributing to the high prices, said FHFA's Anju Vajja, in a statement.

• You can thank rate lock for that.

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