CharlieRua January 6, 2017 Blog no responses
 Hot Topics and Trends that will affect the 2017 South Florida Real Estate Market
A new year always brings changes to the South Florida real estate landscape.  This year is sure to be no exception.
Contributing to this is:
–       An incoming president with differing political/fiscal views from the former administration
–       The Dodd Frank repeal
–       A stronger US Dollar (less foreign investment)
–       Short supply of single-family homes
–       Saturation of the condominium market.
NO MATTER HOW YOU SLICE IT, THIS IS SHAPING UP TO BE A YEAR OF CHANGES.  WHAT SPEAKS TO YOU?
interest-rates-beginning-to-climb-1july2013
Increase in Interest Rates. The Federal Reserve has stated they will continue to raise interest rates. With some analysts predicting roughly 3 separate rate increases in 2017. Potentially increasing all time low-level rates from roughly mid 3% on 30-year home loans to rates closer to 5%.
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Loosening of Lending Terms. Changes to Dodd-Frank could lead to ease in lending making it easier for buyer’s to obtain home financing.
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Strengthening Dollar. Equating to less value for foreigners interested in investing in the S. Florida real estate market. The condominium market has already experienced this effect.
home-for-sale
Short Supply of Single-Family Homes. Coupled with steady demand, especially in the first time buyer sector.
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Decreasing Rental Rates. Condo rental prices are starting to slightly decrease after 4 years of continual appreciation.
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Rising Sea Levels. Living in paradise comes with a cost. With The Earth’s average surface temperature increasing so have ocean water levels. This has a deep effect on South Florida’s real estate market.

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