What’s Up with Real Estate?

by Natalie Hall

National Real Estate News

Job openings drop

The JOLTs report (Job Openings and Labor Turnover) revealed that total job openings had declined from 8.15 million in November to 7.60 million in December. In general, companies aren’t hiring much, and workers aren’t quitting much. In other words, the job market is nowhere near as tight as it used to be, and that's evident in slower annual wage growth. [Source: BLS]

Mortgage rates decline

The "risk-off" trade (selling stocks and buying bonds/gold) has seen bond prices rising and bond yields falling. That's helped average 30-yr mortgage rates move closer to the 6 percent range. Can this trend continue? It will really depend on the January jobs (2/7) and CPI (2/12) reports. [Source: Mortgage News Daily]

Spoiled for choice

The inventory of homes for sale always peaks in September/October, declines through winter, and then starts rising again in March. That said, inventory continues to recover from its COVID-era lows. January 2025 active inventory of 829,376 homes was 25% above January 2024 levels, and only 13% below January 2020 (pre-COVID) levels! [Source: Realtor.com]

Local Market Trends

As of Friday, February 7, 2025

Tampa’s residential market is stabilizing, with home prices holding steady but buyer competition easing. New construction remains attractive, especially with builder incentives, while resale homes need strategic pricing to sell quickly. Higher mortgage rates are making affordability a concern, but serious buyers are still active. Inventory is rising, giving buyers more options, though move-in-ready homes remain in demand. Sellers should focus on pricing competitively and staging effectively to attract offers.