Slow-and-steady wins the race. It may have taken 40 years – but we did it! The Tampa Bay area has finally been named one of the nation’s top-10 markets for real estate investors.

For the past 40 years, PwC US and the Urban Land Institute have created an annual survey of real estate professionals. This year, the Emerging Trends in Real Estate® for 2019 surveyed 2,400 professionals, who ranked Tampa Bay 10th among 79 U.S. metro areas in overall real estate prospects.

You guys. This is huge.

Because the report isn’t just about house flipping; we’re talking multimillion-dollar investors seeking to invest in warehouses, office buildings, industrial space and shopping center – everything.

And the tie that binds Tampa Bay to the other notable nine metro areas on the report? A growing employment base and population, resulting in continued, sustainable economic prosperity.

Another big draw? Housing is a relative bargain, with a median home price of $227,000 – compared to a national median home price of $262,000.

The population surge has propelled another impressive ranking – No. 2 in homebuilding – to accommodate those who flock here for affordable home prices, growing employment and favorable taxes.

But that kind of growth and expansion does exacerbate one existing headache: traffic congestion. Already a point of contention for many residents – a quick peek into the comment section on any story or post about roadway expansions or cyclists’ rights gives just a taste of the contention surrounding infrastructure and usage – growth and real estate temptations could create even more traffic for the Tampa Bay area.

Other notable rankings:

• No. 2 for Overall Real Estate Prospects Homebuilding Prospects
• No. 2 for Local Outlook: South Atlantic and Florida Region
• No. 2 for U.S. Office Property Buy/Hold/Sell Recommendations
• No. 10 for U.S. Multifamily Property Buy/Hold/Sell Recommendations
• No. 12 for Local Market Perspective: Development/Redevelopment Opportunities
• No. 14 for U.S. Retail Property Buy/Hold/Sell Recommendations
• No. 15 for U.S. Industrial Property Buy/Hold/Sell Recommendations
• No. 24 for Local Market Perspective: Investor Demand

Other notable trends:

• Retail Space: With low prices, the trend in “retail leasing to accommodate urgent-care medical facilities, health and fitness providers, restaurants, financial services, and entertainment venues matches the way consumers are spending their dollars in ways that traditional malls and power centers did not.”

• Amenities: In an era when concierge service is being offered in apartment buildings, offices, and even retail establishments, real estate has begun to go well beyond the fitness center and recreational areas to include pet care and even a curated garden growing fresh fruits and vegetables.

• 18-Hour Suburbs: The market still appreciates the urban opportunities in these markets, but interest in suburban submarkets is being mentioned as a benefit as well. Now, at least some of the 80 million–plus millennial generation could be turning their attention to the suburbs, too.

While the report and rankings are certainly a nice feather in the cap of any Tampa Bay resident, it’s nothing we didn’t already know: Tampa Bay is the place to be!

If you’ve considered a move to Tampa Bay or are ready to grow your real estate portfolio here, let one of the professionals at DeLeon Sheffield Company help.

Because at DeLeon Sheffield Company, ‘We’re More Than Realty; We’re Family.’