Florida Housing Market Struggles as Tampa Prices Slashed by 1 in 3 Sellers [Video]

Roughly one in three homes listed for sale in Tampa, Florida, in June had their original asking price slashed by sellers, according to a new study by GoBankingRates. Homeowners in some areas of the Sunshine State are struggling to find buyers amid a flood of new inventory and stubbornly high mortgage rates.

GoBankingRates, a website that provides users with information on personal finance, investing, retirement and financial products, analyzed the 200 largest metropolitan statistical areas (MSA) in the country using Zillow’s June 2024 data to find the worst markets for growth. These were the ones with the biggest one-year and two-year home value drops, largest mean price cuts and share of listings with price cuts, and with the longest period before a property went under contract.

While the worst housing market for growth in the entire nation was Austin, Texas, due to the drastic price drop it has seen in the past couple of years (-17.65 percent) …