TAMPA, Fla. — Florida may be the hardest place in the country to sell a home right now, according to a recent ranking by Underwood Law Firm. This comes as affordability concerns weigh on buyers and sellers in the Tampa Bay area.

The ranking compiled real estate data to compare state housing markets and placed Florida last for sellers. Texas and South Carolina were also listed among states facing challenges.

Vincent Arcuri, a Realtor with Real Broker LLC, said that homes he has been showing have stayed on the market longer than expected.

“You’ve got everything against the real estate. You’ve got higher interest rates, you’ve got skyrocketing insurance costs, and obviously, you’ve got property insurance that’s doubled in the last five years,” Arcuri said.

Arcuri said Florida’s ranking makes sense because rising costs are affecting what buyers can afford.

“My first reaction on that are the property taxes that seem to be skyrocketing like a runaway train,” Arcuri said. “And that’s something that factors into the affordability equation because people — it’s all about how much they’re going to put down and what their payment going to be.”

Redfin data also points to a slowdown in Tampa Bay. Pending sales are down 5.9% year over year, and homes are sitting on the market for an average of 70 days.

Lawrence Yun, chief economist for the National Association of Realtors, said the slower market may benefit buyers who are still able to afford a home.

“Homes are sitting on the market for longer, so those who are still financially capable, it is a great time to take advantage of the buyer’s market that is developing,” Yun said.

Arcuri said sellers are feeling the shift in demand.

“The bidding wars of the COVID era are gone, and your people are happy to get the one offer on their property today,” Arcuri said.

A Pinellas County home Arcuri has been showing has already had several price drops while on the market.

Some homeowners trying to sell said they are putting the process on hold until November, when they will learn whether Amendment 3 passes. They said the measure could provide tax cuts for homeowners.