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.
Latest statistics reveal that Florida property prices went up yet again in October. This latest monthly rise is the 59th in a row showing the market continues to forge a full recovery.
The end of the year means investment prediction time. The latest Emerging Trends in Real Estate forecasts which US property markets are the ones to watch in 2017. Unsurprisingly after an excellent 2016, Florida property is one to keep a keen eye on.
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.
While the US as a whole has failed to fulfil expectations this year, the Florida economy has surged ahead both in economic growth and job creation. Analysts believe this tendency is set to continue throughout 2017, an opinion reflected in the very positive potential seen by local businesses in Florida.
A report released at the end of September reveals the best places to buy investment property in the US. Tampa and Orlando, two of the most popular places to buy property in Florida, come out top, ticking all the boxes.
One of the defining characteristics of the current Florida property market is the shortfall in inventory levels. Despite an uptick in construction activity this year, demand continues to outstrip supply of new-build properties in Florida with a particularly high deficit in the Southwest.
Strong employment, 66 million Americans aged 20 to 34 and low vacancy rates mean an excellent outlook for rental properties in the US.
The rate for foreclosure properties in the US fell to its lowest rate for nine years in July, according to the latest report from CoreLogic.
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.
