Tampa Bay plummets in Zillow hot housing market ranking
Add Axios as your preferred source to
see more of our stories on Google.
The hottest housing markets of 2025 are leaving Tampa Bay behind.
Why it matters: Our hot housing market is cooling off, according to Zillow's annual market ranking. Ranked in the top 10 just last year, it dropped 19 spots to No. 29.
How it works: Zillow's annual ranking forecasts the most competitive housing markets for buyers. Markets at the top of the list are largely "starved for housing inventory," the real estate platform tells Axios.
- These regions tend to be relatively affordable with strong job and wage growth.
Zoom in: Places like the Tampa Bay area that fell in the ranking are markets that are expected to see relatively larger declines in demand relative to supply, per Zillow senior economist Orphe Divounguy.
- Last year's devastating back-to-back hurricanes likely played a part, Tampa real estate agent Chandler Thompson told ABC Action News.
What he's saying: "I think a lot of people are starting to reconsider moving here," Thompson said.
- "Insurance is getting higher, taxes are getting higher, and the market's definitely cooling down a little bit. … Houses are starting to sit a little bit longer."
Zoom out: Rankings plummeted in other Florida metros, too. Orlando — which Divounguy said has seen a 30% increase in for-sale inventory — fell 14 places to No. 23. Jacksonville dropped 9 spots to rank 40th.
- The lone Sunshine State outlier: Miami, which jumped 10 spots to No. 15.
- Hartford, Connecticut, and Richmond, Virginia, are the rising stars to watch in 2025. Sellers there have the upper hand as homes fly off the market at record speed.