2018 has been a very successful year for Real Estate in Florida. The market has steadily increased especially during the last quarter of last year. This 2019 looks like another promising year for Florida. We have listed several factors below why investing in the Florida Real Estate market is one of the best things you can do this year!
Economic factors for Real Estate Investors
Economic factors in Florida have always been strong. With migration, property construction and income raises comes the rise for the need for housing. Some cities like Jacksonville and North Palm Beach, with 4.8% and 4.5 % respectively, has one of the lowest unemployment rates and these numbers reflects on the housing market in Florida. The lower the unemployment rate the more positive is its effect on the Housing Market.
Consistency in the Market
The number of sales for Single Family Houses has increased significantly last 2018, as well as the median sales prices. Homes that are priced below $200,000 is also decreasing meaning the market is now more geared towards upper-middle class. In effect, real estate developers and investors are now paying particular attention to luxury properties.
The Florida Real estate market has always had a flare for international home buyers and more recently the market for foreign investors has been rapidly growing. It is fast becoming an international destination for real estate and the market is getting as profitable as its counterparts in Los Angeles and New York. But the major selling point is that it is comparatively more affordable than its counterpart markets.
Other factors like climate, tax incentives, or retirement are also major keys in choosing to invest in Florida this year. With its constant Real Estate growth, Florida Real Estate market remains to be a Buyers’ Market. It is the best time to sell your property if you’re a Seller. If you’re a buyer, you don’t need to fret. You just need expert help to assist you to get the best deals in the market. We are experts in the Florida market and has been helping both Buyers and Sellers for years in getting the best deal for their money. Call us today and we would be glad to help!