From today’s Wall Street Journal:
“Rising Mercury, Rising Home Prices
The Tampa metro area, which includes cities such as Clearwater and St. Petersburg, had overall inflation well above the national rate of 5% and the highest of any region the Labor Department measured in March. It trailed only Phoenix among places that the department regularly surveys. The largest Arizona metro registered a whopping 8.9% increase in prices in February over the prior year.
…
Southbound migration in search of jobs, sunshine and less expensive housing isn’t new, but was turbocharged during the pandemic. That increased pressure on housing markets, pushing up rents and home prices. But when housing is removed from the index, inflation in those areas is near the national average.
In Phoenix, the median rent payment rose by 26% over the prior year in February on a six-month moving average, and in Tampa the median rent payment jumped 23%, according to an analysis of financial data by the Bank of America Institute. Northern cities such as Chicago, Boston and New York saw equivalent rent payment increases of under 10%.”
Comparatively Florida area (Miami data was not available) seems to be increasing in demand.
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