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Tampa Bay is Zillow’s hottest housing market for 2022

The Tampa skyline seen from Sal y Mar Rooftop Bar on Sunday, Nov. 7, 2021. Zillow named the Tampa metro area the top housing market in the nation going into 2022. [ IVY CEBALLO | Times ]

Zillow has named Tampa Bay the top housing market in the nation going into 2022, according to the real estate firm’s annual analysis.

Tampa Bay rose in the ranks from fourth last year to overtake Austin, Texas, for the top spot. Austin’s standing fell to 10th.

Zillow economists expect Tampa’s home values to rise 24.6 percent in 2022, according to a press release. Tampa Bay’s bustling job market, the high demand for housing inventory, a growing population of home buyers and strong home value growth contributed to its rise over other major cities.

The national housing market will likely begin to slow down “a bit” this year, Zillow forecasts, but finding a home in a hot market like Tampa Bay still won’t be easy. About six out of the top 10 markets have added more jobs than new homes over a two-year period, according to Zillow.

“Across the board, sellers will remain in the driver’s seat, especially so in the hottest markets,” Zillow economist Alexandra Lee said in a statement. “Buyers should be ready for strong competition for homes, which means bidding wars and homes flying off the market only days after they are listed.”

The top metro areas on Zillow’s list were in the Sun Belt region for the second year in a row. Two other Florida cities made the top 10 markets: Jacksonville and Orlando. The coolest markets in the U.S. are New York, Milwaukee, San Francisco, Chicago and San Jose — but according to Zillow, there won’t be many deals in the national “supercharged” housing market.

Top 10 hottest markets in 2022, according to Zillow

1. Tampa

2. Jacksonville

3. Raleigh

4. San Antonio

5. Charlotte

6. Nashville

7. Atlanta

8. Phoenix

9. Orlando

10. Austin

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