The US real estate industry is “strongly confident” about the outlook for market conditions over the next six months. Optimism levels soar for sales of single family homes in Florida and Texas, and price rises for property throughout the country are expected to be at 3.6 per cent over the coming year.
Average rental yields on US property showed mixed results during the first five months of this year. Some counties registered year-on-year rises, whilst in others there were slight decreases as the housing market stabilised. However, overall, buy-to-let property in the US continues to be “a brilliant strategy”.
More buyers, increased sales and higher prices are set to characterise the US property market for the rest of this year. With the job market booming and the US economy growing, experts predict the housing shortage will continue at least until 2017.
The latest report on competitiveness in tourism reveals that the US ranks fourth in the world and that Brazil tops the listing in South America. In addition, Brazil has risen 23 places in the table and tipped as one of the strongest emerging markets for international tourism expenditure.
The US remains attractive to worldwide investors who spent more than ever on property there last year. Florida property continues to appeal to most foreign buyers who show an overwhelming preference for single family homes in suburban areas.
May figures for property in Florida show a market with rising indices. Sales and median prices have both increased in what experts are describing as a robust market. The only decreases can be found in inventory levels, now declining across the board, a situation that is expected to herald further rapid price rises.
A new report on homeownership and household formation reveals some interesting findings regarding the market for rental properties in US. It finds that although new households are set to rise, the number of renters will greatly outpace the number of homeowners. This has considerable implications for buy-to-let properties throughout the US between now and 2030.
Property sales and prices continue to rise in Houston while inventory levels remain well below the national rate. This added to high rental rates and the recent stabilisation in oil prices leads experts to predict a seller’s market for Houston property for what remains of the year.
With most countries finally emerging from the crisis, consumer confidence on the increase and low interest rates in many key locations, international property is on track for an excellent year. Investment volumes are growing, new developments on the increase and rentals struggling to keep up with demand. Key property investment markets for this year include the US, London, New York and Europe’s recovering economies.
Florida continues to dominate US foreclosure listings, topping the rankings for both activity and number of properties. However, improved conditions in the Florida property market are starting to make their mark on foreclosures where properties are no longer well below market price or as plentiful.
Buy-to-let properties in the US continue to provide excellent returns for investors with the highest growth in rent for six years. Among the areas in the US showing the highest returns are three Florida cities with Orlando rentals seeing the biggest rise nationally.
Figures for tourism in Florida continue to smash records all round. Visitors for the first quarter this year were the highest for a three-month period ever; Orlando set a historic high for metro areas in America; and revised statistics for last year, show that those on holiday in Florida were nearer the 100 million mark than originally calculated.
A recent survey of the huge millennial generation in the US (Americans born between the 1980’s and 2000’s) reveals that the majority prefer rental property and aren’t ready to buy a home yet. Millennials also state a strong preference for neighbourhoods with easy access to amenities and claim they’re highly mobile. Single family homes make up a significant proportion of millennial rentals, highlighting the investment opportunities in this type of US property.
Yet again, Florida ranks among the best states to do business in the US according to the annual Chief Executive magazine survey. Florida came second in the nationwide ranking and stands poised to take the top spot from Texas to become the best place in the US to do business.
Spring usually sees the busiest time in the property year and the US market is no exception. As the country’s economy moves firmly forward and creates employment opportunities, US property follows suit. Activity levels are so high in some parts of the US that some experts are predicting the best spring since pre-crisis years because of these five trends.
The Florida property market continued to show solid and sustainable growth in March, a month that notched up the state’s 40th consecutive rise in median houses prices. Closed sales also boomed while inventory levels dropped nearly 10 per cent.
