Things Are Looking Up for Pace Florida Real Estate

Things Are Looking Up for Pace Florida Real Estate According to the latest forecasts including the ULI Real Estate Consensus Forecast, the economy of the United States appears to be on solid footing despite the relatively shaky global economy and the jumpy stock market. This is good news for buyers and sellers in Florida in general and in the Pace Florida real estate market in particular since a solid economy can mean a solid real estate market.

Buyers and sellers will find that the real estate market offers plenty of opportunities for investments with satisfactory returns.

But even the real estate observers and insiders agree that caution should still be exercised as the real estate market remains volatile. The trick is in setting realistic expectations, researching on the property, and remaining alert to the opportunities in and outside of Florida.

Upward Trend Based on current data, key economic indicators including employment and real estate prices will continue to increase in the next three years. By 2017, for example, the forecast for the unemployment rate drops to 4.8 percent – a good sign for the real estate industry as more employed people drives sales (i.e., more people can afford to purchase their own homes).

Real estate prices are also predicted to continue their upward trend. But emphasis must be made that the upward trend may likely be at more subdued rates in comparison with the past five years.

With the battering that the real estate industry underwent during the global financial crisis in 2008, growth is growth so even lower growth rates are reasons to rejoice.

Slower Growth While the growth is slowing down, the commercial real estate sector will likely have double-digit returns at the end of 2015. According to the Consensus Forecast, the industrial sector will likely post returns of 13 percent; the retail sector may post 12.2 percent and the office sector 11.6 percent.

The optimistic views shared by real estate insiders are partly due to the increase in the number of tenants increasing in commercial spaces across the country.

In the Navarre FL real estate, the bullish market is evident in the strong sales experienced by home builders with many buying up lots in the area in anticipation of a better market in 2016. The bulls are certainly growling in Navarre’s residential construction market with the same also happening in the Cantonment real estate market.

Realtors, buyers and sellers, and builders are still well-advised to remain cautious because of the factors that can further slow down growth, such as the possibility of an interest rate hike and the turmoil in public markets. Overall, nonetheless, the future looks better than it did before.