Speculation surrounding the Florida real estate market is continually being rehashed in the media, with a reported lack of inventory overshadowing the facts and figures that all seem to suggest signs of recovery, stabilization and growth in the area.
Consider, for example, the fact that house prices in South Florida have been rising by 11% annually, according to the Case-Shiller report. This is a much welcomed sign of recovery and a step in the right direction.
Additionally, the number of houses involved in the foreclosure process and delinquency on active mortgages has decreased, says CoreLogic. This serves to highlight that stability is within reach and, rather than question the effects of a lack of inventory, fewer foreclosed properties on the market has encouraged positive activity within the development and construction industries and resulted in real estate growth.
All facts and figures unquestionably highlight improvement in the real estate market, benefiting both developers and buyers by creating financially viable investment opportunities. Demand is up, which is good news for developers. With the market as it stands, South Florida offers attractive returns on investment for buyers through rentals, long-term sales and via the renovation market for a quick turnover.
This confidence in investing in Florida is warranted. The market has become more diverse today than during the market boom, with the buyer pool enriched by overseas cash injections. Additionally, lenders are wising up and investors are much more cautious, eager to avoid a repeat of darker times.
As a result, a combination of the aforementioned factors has deemed South Florida to be one of the most promising areas for property investment across America and amongst the areas to watch worldwide, according to experts.