( NewsNation ) — For years, the greater Tampa area was considered among the most appealing places to relocate to not only in Florida but in the entire United States. But in 2024, the Sunshine State has seen its housing market cool dramatically.
The housing shift took place even before Helene ravaged Florida last week.
Among the concerns of Florida homeowners is the issue of rising home insurance costs. Since the deadly storm made landfall last week many residents say they are ready to move out, according to a Wall Street Journal report .
Helene dropped more than 6 feet of storm surge on the Tampa metropolitan area – which includes St. Petersburg. Redfin identified that area as the fifth most popular relocation spot in the U.S. last year.
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Citing data from Parci Labs , the metropolitan Tampa area saw a 58% increase in supply and a 10% decrease in demand. The firm reported that about half the homes listed for sale in the region dropped in price as of early September, the Wall Street Journal reported.