US homebuilding saw a record month in June when sales by one of the largest construction companies skyrocketed by 94%. Permits and building work have also increased on the back of strong buyer demand for larger single-family homes in suburban locations.
Record buyer interest and surging house prices suggest that the US real estate market has recovered its pre-pandemic levels. And based on the latest figures, analysts are predicting the busiest summer ever, although buyers face a chronic lack of supply.
Despite a quiet few weeks with no viewings, the US property market has recently seen in surge in demand for single-family homes, particularly in suburbia. This plus the shortage of supply has also led to a rise in the number of new-build starts and permits.
While some asset classes such as stocks and shares are currently riding a rollercoaster, multi-family properties offer solid investment potential. Consistent and sustained demand means this type of real estate investment stands out against all others at the moment.
Even during stay-at-home recommendations, the US real estate market has continued to show signs of strength. Despite fewer listings and a slowdown in the time taken to sell property, house prices keep rising. Median prices for May registered the highest ever.
The covid-19 pandemic has affected all aspects of our lives. Some of the most significant shifts have taken place in the property market where new trends are emerging. These mean that US buy-to-let properties now stand as one of the best real estate investments available. In this article, we look at the four reasons why.
Single-family homes are one of the best property investment options in the US, particularly for buy-to-let yields. Returns have dropped very slightly across the US in 2020 compared to 2019, but several areas continue to post figures well ahead of the national average. Baltimore and Atlanta metros are currently offering the highest while Florida counties provide returns in the region of 8 to 12%.
According to a benchmark report, Florida land values continue to rise and by extension, to offer solid investment potential to buyers. The latest study revealed that finished residential lots in central and southwest Florida saw considerable rises in value. Land in counties such as Orange and Sarasota were particular hotspots for investment. Another report found that Sarasota homeowners saw an average equity rise of US$6,735 in 2019
Property in the Sunshine State notched up another rise in February, the 98th monthly increase in a row. It was a particularly busy month for the Florida real estate market with both condos and single-family homes posting impressive sales figures and price rises. March too looked busy as new pending sales for all types of property registered double-digit increases.
Florida is continuing its best tourism year ever, welcoming another 31.6 million visitors during the third quarter of 2019. Also Florida is very present in the Best places to live and retire in the US rankings.
Discover why Florida metros take the lion’s share of the best places to retire in the US and why Sarasota is one of the most popular metro areas of all.
Florida is one of the world’s favourite destination not only for travelling but also for investing in property. Here is an overview of the real estate market and economy in the state in Quarter 3 of 2019. The Florida Realtors’ latest report shows new positive figures. They stated that more closed sales, higher median prices, more pending sales and rising pending inventory during the third quarter of 2019. Also, during those three months, more than 78,750 single-family homes were sold across Flor
New figures show an increase on property value. In fact, home values have increased by 4.64% from 2018 in the same period. The forecast for home values in the US shows and increase of 2.2% over the next year. However Florida’s forecast is even more positive showing an increase of 4.09% over the next year.
The economic forecast in Florida shows signs of economic growth specially in real estate. Sean Snaith, economist from University of Central Florida, expects the state economy to grow at a faster pace than the United States. The property market in Florida has always been stable and rising.
Jacksonville is the largest city by population and area in the state of Florida. Home to 903,889 residents, it too has a growing population with a rise of 1.6 million expected by 2023.
At BRIC, we partner with successful and reliable property management companies such as Compass Property Management Group, a full-service Property Management Company. Compass Property Management Group has been awarded 2019 Best of Jacksonville Award