About 70% of Tampa Bay's home listings have been sitting on the market longer than a month, according to a recent Redfin report.
Why it matters: More inventory is growing stale across the nation as high costs stifle house buyers.
The big picture: Homes in Tampa Bay spend an average of 35 days on the market before going under contract, Redfin data shows.
The share of stale home listings in Tampa Bay ballooned almost 10 percentage points from last year — the second-highest increase in the nation, trailing only the Dallas metro area.
Between the lines: Analysts at Redfin note that Florida and Texas lead the U.S. in unsold homes, in part because these states are building more homes than the rest of the country.
Pair that with pricier home insurance and steep home association fees.
The big picture: Roughly 65% of U.S. homes for sale in June had been listed for at least 30 days, researchers found.
44 of the 50 most populous U.S. metros saw the share of stale listings increase from the previous year.
Reality check: Move-in ready homes in hot neighborhoods are generally still selling quickly and drawing multiple offers, real estate agents say.