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Brighter Skies?
January 16th, 2013 10:20 AM

Are there brighter skies on the horizon for the real estate market?  An economist for Florida Realtors Association seems to think so:

  "It is predicted that Florida's real estate market will improve in 2013, driven by the state's stronger economy.  Job creation has been strong across the state for the past two years and that is the foundation for better housing conditions.

Other positive signs include low mortgage rates, although many buyers will find it difficult to qualify for loans, due to the stringent credit standards.  Investors will remain active in the Florida market since they can use cash to purchase single-family and multi-family properties and rent them out to tenants who may not qualifity for a mortgage loan. 

While foreclosures and other distressed property sales will remain a significant segment of the Florida residential market, the situation has stabilized and people have adjusted to such a market. 

New home construction will increase, although the volume will remain low by historical standards.  Many builders are looking at smaller projects in niche markets. 

International buyers and investors will continue to buy large amounts of Florida properties.  The largest numbers will come from Canada and Latin American countries, such as Brazil and Venezuela.

From a statewide perspective, Florida's housing market will benefit from a stronger population inflow, including a significantly larger number of retirees.  A lot of wealth that the Baby Boomers lost in the crash of the market, has been gradually restored and plans are being revived to move to Florida."

These are all positive signs that there are brighter skies ahead to both buyers and sellers in the sunshine state!


Posted in:General
Posted by Barbara Doeringer on January 16th, 2013 10:20 AMPost a Comment

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