Panama City Housing Starts Up 70%, Short-Terms Dominate
Market Trends and Growth Trajectory Panama City's housing market is undergoing a notable transformation. A 70% surge in housing starts has disrupted traditional market dynamics. This escalation in construction activity signals significant shifts in housing affordability and investment opportunities. With an 18.2% increase in inventory, affordable housing developments lead this expansion. Additionally, many regions are experiencing significant declines in home prices and housing affordability, impacting both homebuyers and investors nationwide. The developments are delivering 1,100 completed units and have 2,100 more underway for 2023-2024. The rising rental supply has raised concerns about potential oversupply, resulting in lower rental prices as landlords compete for tenants. Home values increased by 5.6% over the past year, adding further complexity to the evolving market landscape. Alongside, increased housing assistance programs are encouraging more renters to transition to h...