Now that the housing market has steadied after more than a decade of difficulties, this could be the perfect opportunity to invest in a home. It is said that South Florida is an earmarked real estate market and it’s driving the prices of real estate up.
The Case-Shiller 20 City Index noted that home values rose 5.7%. Leading economists think prices will continue to rise, at least in the interim. Nationally, Miami is considered one of the top 20 metropolitan cities with highest growth forecast. Topping the list is another South Florida city, Tampa.
The National Association of Realtors is forecasting a 4.4% increase in existing home prices and in 2017 an increase of 3.4%. According to Miami Board of Realtors, “South Florida housing inventory is on the rise as local median price and sales growth encourages more sellers to list their properties. The development is counter to a national trend that has seen national home inventory decline for five consecutive quarters.
Leading economists, Moody Analytics, are projecting that home prices will continue rise across the board. To discuss the current real estate market in South Florida, please email INFO@wfpcc.com or call the leading waterfront specialists at Waterfront Properties and Club Communities at 561-746-7272.