Yet again, Florida dominates the Forbes list of the best property investment in 2017 with at least 26% house price growth expected by 2020.
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.
A study of the profile of US property buyers in 2016 revealed an increase in first-time purchases and an overwhelming preference for single family homes. It also showed a market still much in favour of the seller.
That Florida property represents great value this year is no secret but according to a recent survey, it actually couldn’t get any better.
Figures released for US property prices in August point to another rise and bring the market close to its peak reached in July 2006. Prices went up across the board with some markets showing considerably higher increases.
Property analysts are unanimous in that 2016 has been one of the best years for the US housing market since the crisis. With the sector already looking forward to more of the same next year, now is a good time to take a look at some forecasts for the trends in the US property market in 2017.
The so-called millennials now represent the largest generation group in the US property market. A recent survey reveals their homeowner aspirations and what exactly makes the ideal US property for the millennial generation.
As the US economy and job market register full recovery levels, demand for housing is soaring. As a result, property inventory levels are tight across the board creating strong demand for new builds. However, developers currently face one major obstacle – the severe shortage of building land in the US. This latest BRIC Group article provides the full picture.
The market for Southwest Florida property is registering record performance. The highest number of new-build starts and completions since 2006, alongside the significant percentage of cash sales and strong increases in median house prices make Southwest Florida one of the current hot spot areas in the state.
For the Americans, property investment is the best long-term choice for their money. Standing well ahead of other investment options, property ranks as the favoured haven for money over stocks, bonds and gold. The turn-around in the US property market with house prices on the rise is one of the main reasons behind their choice. This BRIC Group news article explains the phenomenon.