Figures for new construction in the US surged in October to their highest level since 2007. However, despite the hike in housing starts, high demand for property continues. This in tandem with very low inventory levels means the US housing shortage looks likely to continue for at least another four years.
Latest statistics reveal that Florida property prices went up yet again in October. This latest monthly rise is the 59th in a row showing the market continues to forge a full recovery.
The end of the year means investment prediction time. The latest Emerging Trends in Real Estate forecasts which US property markets are the ones to watch in 2017. Unsurprisingly after an excellent 2016, Florida property is one to keep a keen eye on.
That Florida property represents great value this year is no secret but according to a recent survey, it actually couldn’t get any better.
A report released at the end of September reveals the best places to buy investment property in the US. Tampa and Orlando, two of the most popular places to buy property in Florida, come out top, ticking all the boxes.
One of the defining characteristics of the current Florida property market is the shortfall in inventory levels. Despite an uptick in construction activity this year, demand continues to outstrip supply of new-build properties in Florida with a particularly high deficit in the Southwest.
The rate for foreclosure properties in the US fell to its lowest rate for nine years in July, according to the latest report from CoreLogic.
Florida has long been a favourite retirement spot, but a recent survey has confirmed its popularity. So much so that when it comes to the best place to retire in the US, Florida cities dominate the ratings.
With Florida motoring ahead of the US economy, it’s obvious that the Sunshine State has left the recession well behind. And within Florida, the Tampa-St Petersburg-Clearwater MSA stands out for exceptionally positive figures. As a result, the Tampa Bay property market hasn’t had it so good for years.
A recent report from Freddie Mac finds that the Orlando property market is the fastest growing in the US and has a stable outlook for growth. This BRIC Group news article explores the reasons behind the surge in the market and explains how it’s part of a bigger picture of the improving property market in Florida generally.