Sunshine State Economy shifting into high gear….

January 11th, 2019

According to TD Economics, an affiliate of TD Bank, Florida has become the 3rd most populous state in this great country.  Bumping New York from that long standing status .

Strong population growth, income growth and reflation in household wealth will drive Florida to out perform the nation by a considerable margin in 2017 and 2018. TD Economics also estimates that Florida’s population will grow to around 20 million for next year and that alone will increase consumer spending and housing demand. TD Economics expects the housing, retail, tourism, and professional and business service sectors to fuel the Sunshine  State’s growth over the next two years!

With home price gains of 6 to 9 percent over the next two years. New construction should increase 50 percent of current levels by 2018 and reach 120,000 units. As many as 100,000 new construction jobs may be added before the end of 2018.

What’s Motivating Buyers to Purchase Now?

It’s the expectation the prices are going to continue to rise.  A Redfin survey of over 1,000 active homebuyers clearly showed that consumers are starting to feel a sense of urgency to purchase soon because they believe prices will move higher in the next 12 months. Also, buyers are citing low interest rates as the leading […]

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