TAMPA, Fla. — Tampa is leading the nation in luxury home price growth, according to a new Redfin report, highlighting a widening divide between Florida’s high-end housing market and the rest of the market.
According to Refin, luxury home prices nationwide increased 4.7% year over year in May, compared with a 1.5% increase for non-luxury homes.
The brokerage says affluent buyers have remained active despite elevated mortgage rates and economic uncertainty because they are generally less sensitive to borrowing costs and are more likely to pay cash or make substantial down payments…