Home near Tampa sells for $130,000 loss as Florida housing market shifts

A home near Tampa, owned by Blackstone, sold for $360,000, a loss of $130,000 or 27% from its purchase price of $490,000 in April 2022. This sale reflects a broader decline in Florida's housing market. The property, built in 2020, was on the market for about 250 days, significantly longer than the average of 53 days in the area. Increased home listings have contributed to downward pressure on prices. Blackstone's strategy to invest in single-family rentals has faced challenges, leading to the liquidation of many properties in Florida. The sale highlights ongoing corrections in the housing market, affecting both institutional investors and potential homebuyers.