Axios Tampa Bay

September 18, 2024

It's Wednesday — and National Cheeseburger Day! Burger King, Dairy Queen, BurgerFi and Applebees are offering deals, among others.

🌦️ Sunny, then scattered showers. 92°/74°.

Sounds like: "I Feel Home," O.A.R.

Today's newsletter is 752 words, a 3-minute read.

1 big thing: The best time to buy

Illustration of a house wrapped with a bow. — Illustration: Lindsey Bailey/Axios

If you're looking to buy a home in Tampa Bay, historical trends suggest that it may be wise to wait until closer to Thanksgiving.

Why it matters: In homebuying, timing is important — with factors like competition, the prevalence of price reduction and how quickly homes are selling all playing a factor in finding the best deal.

The big picture: Historically, the first week of October has been a good time to buy a house in the U.S., per a new Realtor.com report.

After reaching a peak in spring and summer, the pace slows, demand wanes, but inventory hasn't yet hit its holiday slump.

Zoom in: However, Tampa Bay buyers may want to wait a bit longer before making a move.

In Tampa Bay, Realtor.com reports the optimal buying window is Nov. 3-9, when active listings are up 17.5% and views of property listings on the site are down about 40% from their peak.

Bar chart showing the median length of time that houses stay on the market in Tampa Bay before being sold, based on 2012 to 2023 data. Houses sold in February have been on the market the longest, at 61 days on average, while houses sold in July were only on the market for about 45 days. In 2024, houses are staying on the market for less time than the historical average.

Between the lines: Through July, homes in Tampa Bay have been going under contract faster than the average over the prior decade.

What we're hearing: By fall, sellers are desperate to close before the holidays, which opens the door for better deals, Denver-area agent Kelly Moye tells Axios.

In August, one in five for-sale homes in the U.S. reduced its listing price, per Redfin data.

Yes, but: Mortgage rates are once again a wild card. Experts predict lower rates could bring buyers off the sidelines, which could drive home prices even higher if inventory doesn't improve.

With the Federal Reserve expected to announce rate cuts today, mortgage rates are already at lows not seen since early 2023.
Mortgage applications hit a 19-month high in August and have continued to climb, according to the Mortgage Bankers Association.

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Go deeper: How to brace your budget for home buying

2. 📺 Amendment 4 ad blitz

Sommer Brugal

Illustration of a stethoscope surrounded by ballot imagery. — Illustration: Shoshana Gordon/Axios

Groups across Florida have spent nearly $13.5 million on advertisements for and against the state's ballot initiative to enshrine abortion rights in the state constitution, according to Ad Impact.

Why it matters: The outcome of November's referendum will have massive implications for reproductive health in the South, and groups on both sides are spending big to influence voters.

Clinician-provided abortions plummeted by 35% in the two months following the state's six-week abortion law going into effect in May.

By the numbers: Floridians Protecting Freedom, the coalition that put abortion access on the ballot, has spent more than $6.6 million since the start of the year.

It has focused the bulk of its spending in the Miami-Fort Lauderdale, Tampa-St. Petersburg and Orlando-Daytona Beach areas.
On the other side, the Republican Party of Florida has spent more than $6.5 million across the state.
Florida Voters Against Extremism, which opposes Amendment 4, has spent around $114,000, while the ACLU, which supports it, has spent just over $30,000.

Catch up quick: In recent weeks, the DeSantis administration has used government resources to combat the initiative.

Gov. Ron DeSantis has defended those efforts, but the state now faces multiple lawsuits arguing they were illegal.

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3. The Pulp: "Trailer trash tragedy" controversy

Illustration of a manatee holding a newspaper and drinking a glass of orange juice. — Illustration: Allie Carl/Axios

📸 St. Petersburg City Council candidate Torrie Jasuwan posted stereotype-laden photos on social media in 2022 from a "trailer trash tragedy" themed Catholic school fundraiser she hosted. (Tampa Bay Times)

Jasuwan, who deleted the posts after the Times asked about them, said the theme "wasn't meant to be derogatory in any way."

🎢 Busch Gardens Tampa Bay has announced a new attraction, Wild Oasis, opening next spring. It will feature a drop tower, a climbing canopy and up-close animal encounters. (WFTS)

🏈 After he was booed off the field at halftime of the Gators' latest drubbing, this time by Texas A&M, there's a growing expectation that UF football coach Billy Napier will soon be fired. (ESPN)

Don't expect the same fate, however, for FSU's Mike Norvell, even after the Seminoles' 0-3 start. (USA Today)

4. 😋 The Cuban sandwich Elite 8

Illustration of a Cuban sandwich under a spotlight. — Illustration: Allie Carl/Axios

The first round of our sandwich showdown featured several blowouts, with Bodega, Alessi Bakery and especially The Floridian cruising to easy victories.