Happy Thursday!

From island-inspired concerts to a well-deserved parents’ night off, this weekend in Pasco’s looking pretty sweet.

But we’re not stopping at fun plans—there’s bigger news too.

A massive senior housing project just broke ground, one of our favorite parks is finally back after storm damage, and guess who’s not letting mortgage rates hold them back? Yep—millennials.

Let’s dive in. ⬇️

—Sean

👴 Pasco's New Place to Call Home
for Seniors

Driving the news: McDowell Housing Partners has broken ground on the first phase of Ekos at Bayonet Point, a 360-unit affordable senior housing community in Pasco County.

Why it matters: Affordable senior housing is in short supply across Florida. This development addresses a local need by providing accessible homes for older residents living on fixed incomes.

It also supports aging-in-place goals by being close to healthcare and essential services.

The big picture: Ekos at Bayonet Point will eventually include three phases:

• Phase two (in design): 120 more senior units

• Phase three (in planning): 126 units for families and individuals of all ages

• Total: 360 units

What’s next: Phase one is expected to be completed by Q3 2026. Plans for the remaining phases will move forward as designs are finalized and funding secured.

MORE→

👀 Housing Hesitation?
Not for Millennials

Driving the news: Millennials are stepping into the housing market with more confidence, even as high mortgage rates continue to deter buyers from other generations.

Details: Realtor.com’s latest spring survey found that 23% of millennials plan to buy a home within six months, up from just 15% in September 2024.

This stands out as the only age group showing increased interest in purchasing real estate despite sustained financial headwinds.

By the numbers:

• 69% of Americans across all age groups say they aren’t planning a home transaction anytime soon.

• One-third have delayed buying due to high mortgage rates — a trend unchanged since last fall.

• Most buyers (63%) want rates below 5% before making a move; only 2% would consider buying if rates stay above 6%.

Why it matters: This shift suggests that millennials are prioritizing homeownership, even in a tough market — a promising sign for local housing sectors looking for movement amid stagnation.

In communities where younger buyers are active, this could drive demand, support property values, and stimulate related services.

Between the lines: Younger generations remain more rate-sensitive than boomers, who are more insulated from interest rate shifts.

Meanwhile, many potential sellers feel “locked in” by their current low-rate mortgages, making them hesitant to list despite buyer demand.

What’s next: As life events continue to prompt moves, and if interest rates show any dip, we could see a release of pent-up demand from both buyers and sellers.

That would bring fresh inventory to market and offer more options to buyers currently priced out.

The bottom line: Millennials aren't waiting forever. They're finding ways to buy, signaling that local housing momentum may come from a generation once thought priced out.

MORE→

📊 Our Current Local Market Data:

The Tampa Bay housing market is shifting into a more balanced phase after years of rapid growth. As of March 2025, the median home price is $429,575—up 4.5% year-over-year, but with a slower pace than in past years.

Inventory is rising, giving buyers more options, while homes are taking longer to sell, with a median of 33 days on the market. This offers more negotiation power for buyers, especially on listings that have been sitting for weeks.

Despite higher insurance costs and affordability concerns, Tampa remains attractive thanks to its strong job market in healthcare, tech, and finance. The region continues to grow, both economically and in population.

Sellers should focus on competitive pricing and presentation, while buyers now have better leverage. Even with current challenges, Tampa Bay is positioned for steady growth and remains a market to watch in 2025.

If you’re curious how much your home could sell for now, then reply “What’s my home value” or you can get an estimated value here.

Or if you’re just curious about how the current market affects your situation & what’s going on in your specific neighborhood, just reply & ask.

📰 In Other News:

• Pasco County Public Works to discuss 15 major stormwater projects

• New light, intersection opens in northern Land O’ Lakes

• Pasco County is using resident feedback to help with their stormwater master plan

• Pasco County Libraries is a World of Adventure!

That’s all for today, I hope you have an amazing week!

• a custom market or home value report

• a home services list for a reliable contractor or services professional

• feedback or a professional opinion on a home project

Just let me know! We’re here to help with all your home needs.

Talk soon,

- Sean, and the Bello Home Team

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