The number of homes for sale in January 2023 grew, while the time spent on the market slowed compared to January 2022. However, the growth rate in the total number of homes for sale remained lower than active inventory because fewer homes were under contract last month than in January 2022.
January 2023 Inventory Trends: What They Mean for Tampa Buyers and Sellers
In January 2023, the national housing market experienced a noticeable shift. The total number of homes for sale grew compared to January 2022, offering a bit more breathing room for homebuyers who had previously faced relentless competition. However, even with this growth, the pace of home sales slowed. Homes spent more time on the market, giving buyers slightly more leverage and decision-making time than they had during the frenzy of the previous year.
But here’s where it gets interesting: although inventory increased, the growth in the total number of homes for sale still lagged behind the growth in active inventory. Why? Because fewer homes went under contract in January 2023 compared to the same month in 2022. In other words, even though there were more listings available, demand had softened—likely due to higher interest rates, affordability challenges, and buyer hesitation.
Zooming into Tampa, these national trends reflected what was happening on the ground. The Tampa real estate market saw a moderate rise in available listings in early 2023, particularly in suburbs like Riverview, Wesley Chapel, and Apollo Beach. Yet, many homes lingered on the market longer than usual, a stark contrast to the rapid-fire sales of 2021 and 2022. For Tampa homebuyers, this slowdown offered opportunities to negotiate price or request seller concessions—something that was nearly impossible during the peak of the pandemic housing surge.
For sellers, this shift meant pricing strategically was more important than ever. While Tampa remains a strong market due to continued population growth, low taxes, and lifestyle appeal, sellers could no longer rely on sky-high demand alone to sell quickly. Homes that were outdated, overpriced, or in less desirable school zones took longer to move.
If you’re navigating the Tampa housing market, understanding the nuances behind active vs. total inventory is key. More homes may be available, but buyer demand—and how quickly those homes go under contract—shapes the real story. Whether you’re planning to list your home or make a purchase in Tampa, staying in tune with market conditions, interest rates, and local buyer trends will position you for success in 2025 and beyond.
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