A new year usually breeds optimism for many people - hence the "New Year's Resolution" theme that some South Florida residents and others start their year with. But, optimism doesn't always translate from someone's personal life to the state of much larger concerns, such as the economy and the housing market. Fortunately, according to a recent report, optimism is taking hold in the South Florida residential real estate market.
The recent report detailed the results of a survey of local real estate experts on what they think will occur in the residential real estate market in 2017: better or worse than last year? The report showed that the survey indicated a majority of those polled - 53 percent - expect a "much better" or "somewhat better" real estate market for South Florida. The rest responded that they expect the local real estate market to be "the same" or "somewhat worse."
Of course, the survey also asked respondents why they believed certain changes would occur in the South Florida real estate market - why were they optimistic? For 32 percent of respondents, there was an expectation that the national economy would improve in 2017, which would help breed confidence for both buyers and sellers. The second most cited reason - given by 28 percent of respondents - may surprise our readers: the election of Donald Trump as president, a former real estate businessman.
In all, the survey holds some good news for South Florida residents who may be getting ready to enter the real estate market this year, either as a buyer or seller. A healthy real estate market can produce good results for all parties to a real estate transaction.
Source: Miami Herald, "Trump will be very good for South Florida real estate, survey says," Nicholas Nehamas, Jan. 18, 2017