Florida Inv | Jean Deglon
South Florida demand get ahead of supply

South Florida demand get ahead of supply

Dream of Buying Real Estate in Florida comes true as younger grow up and gradually get independent. Homeownership remains a priority for young generation home buyers regardless of tight housing active listing and stiff competition for purchase. Conditions which result in price rise in many markets. Meanwhile majority believe now is a good time for Buying Real Estate in Florida.

Not surprisingly, homebuyers get deeper awareness of market conditions thanks to Real Estate Support Services. Potential homebuyers believe that home buying has become more and more competitive with a shortage of listings in many areas.

Several factors have contributed to the current housing shortage in many Real Estate markets. New construction stopped during the recession while population growth continues to blossom.

Builders are increasingly moving forward on new projects in a wider range of price points but demand still get ahead of supply in markets like Miami.

Baby boomers have also contributed to the shortage as many are not interested in selling a home in Florida or elsewhere. They hesitate to list their property because they believe home values are rising. Another factor might be convenience as the market analytical reports shows that baby boomers less likely go for new property at the moment.

Our analytical report in Miami shows that active listings have declined to 48,184.During the 12 months ending August 31, 2017, there were a total of 31,226 new listings in market, a decrease of less than 31% over the same period in 2016.

Based on Realty Services Florida analytical report, average sale price grew 16% in Palm Beach and 15% in Broward and 6% in Miami-Dade.

While August wasn’t a great month for selling a home in Florida, the numbers in September will probably be lower than usual because Hurricane Irma shut down real estate transactions for at least 10 days in most of the state.

Various index and reports suggest younger generations still remain optimist about Buying Real Estate in Florida and they do their best in markets where competition for reasonable price can be difficult.

To win the game, homebuyers must consult Real Estate Support Services, a professional agent who can analyse the market and will recommend the best ways to secure a home at a reasonable price.

Generally speaking, consumer eagerness toward real estate and its prospects remains high, as lower mortgage rates and the prospects of rising home values continue to be passion.

 

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