Florida Property Buyers have been on the rise in 2015 to 2016.
Reports shows that buyers have purchased a total of 214,885 residential properties across US last year – and about 22% of these are accounts from Florida.
This study came from the 2016 Profile of Home Buying Activity in US Residential Real Estate.
Forbes also reports that Florida Property Buyers are ranking very well for their 2017 study.
Four Florida cities claimed their spot on 2016’s top real estate cities in the country: Jacksonville at no.2, Orlando at no.3, West Palm Beach at no. 5, and Tampa at no.7.
While it’s well known of Florida’s financial crises earlier with most of its cities undervalued by over 20%, the recent builder constraint and distinct job growth boosted and stabilized the value of its existing homes.
Foreign Buyers, usually those from the colder climates like Europe, Canada, and China, tend to purchase vacation properties in Florida due to its natural warm climate. In fact, the influx of local and foreign Florida Property Buyers are already creating a wave of property shortage in selected areas.
The strong resurgence in sales could potentially rise in a few years’ time; the demands keep rising with limited supply — thus means a high potential price hike.
The property investment industry seems to be fairing great too, as the desire to owning/living within Florida never fazed.
Some property experts even think that this is the beginning of Florida’s market increments. Prices are currently rising, and continue to rise – thus making it the best time to start an investment.
The Sunshine State had a lot going on with its scenic attractions and its 365 sunshine per year.
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Buy Like Rent is a Real Estate Agency based in Florida with an experience for over 50 years in rent-to-own, buy and sell, property investment, real estate brokerage, and mortgage banking operation services.
Buy Like Rent is your dedicated Real Estate broker with over 50 years of experience in selling residential real estate, buylikerent homes, and property investments.
