Florida's residential real estate market makes strides

Florida's residential real estate market makes strides

In Florida, the real estate market appears to be making a comeback. In fact, today's residential real estate market in the Sunshine State is unlike what real estate and land development professionals have seen in the past. The state is growing so much that it is expecting to get a whopping 300,000 new residents next year.

One big game changer this year includes a generation of people who are delaying buying homes. Another one is the fact that lands that are environmentally sensitive and that were previously off limits have suddenly become available. These two situations are expected to continue to change the game of real estate in the future as well.

During the past few years, some people have been wanting to move to Florida but were unable to sell their homes. Three years of improvement in home sales has now made it possible for people located above the sub-tropic zone to move to the state. What remains unknown is how long this growth in the real estate market will last.

Professionals in Florida's residential real estate market have said that the state may not revisit the success experienced in 2005; however, growth is expected to continue and eventually level off. People who are interested in purchasing a piece of the Sunshine State may find their real estate transactions to be complex, with one mistake potentially causing a deal to flounder. Appropriate legal guidance may help these individuals to navigate their deals successfully from start to finish and thus ultimately accomplish their real estate goals.

Source: news-press.com, "Real estate: Nothing's normal about this new normal", Patricia Borns, Nov. 24, 2015