With home prices across the country continuing to rise due to a combination of high demand and low supply, economists can't seem to agree whether or not Florida is in a housing bubble. With interest rates on the rise, there is one new factor that may help keep Florida's housing market above water, population growth. If population growth continues to outpace the impact of rising interest rates, then Tampa Bay and the rest of Florida may continue to see a string housing market.

It turns out that Tampa Bay's housing prices make it one of the most overpriced areas in Florida. Tampa Bay houses are selling for more than 46 percent above historical trends. While population growth will help protect the area from a possible housing bubble, the premium on Tampa Bay homes will leave the area vulnerable to a housing bubble if the numbers continue to increase. For comparison, Tampa Bay's housing premium was 68 percent overvalued before the housing collapse of 2006. While the markets are getting riskier, population growth, buying before interest rates rise again, and the demand by remote workers lead most to believe that houses will remain a good investment for at least the balance of 2022.