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Will Florida’s real estate market boom continue through 2020?

On Behalf of | Mar 4, 2020 | Real Estate Transactions |

Forbes listed numerous Florida cities as a “real estate investors best bet” for 2019. The publication is one of many reasons the state experienced a real estate boom last year.

Will the state’s real estate market continue to thrive in 2020? Thus far, the answer is a resounding yes. Recent data shows an 11% increase in home sales in the state over recent months.

Why is Florida’s real estate market so strong? There are many reasons. Some of the top include:

  • Weather. Arguably top of this list is the state’s weather. It is known as the sunshine state for a reason — it delivers. This fact makes it a popular spot for relocation as well as tourist destination, making real estate within the state beneficial for full time residents and investment property owners.
  • Competitive business practices. The state is also a draw for business owners. It boasts dozens of global headquarters and a dynamic economy with a reputation as a pro-business destination.
  • Quality of life. Although the weather could also play a role in quality of life, Florida offers other benefits that provide residents a high quality of life. These include the fact the state does not have personal income tax and a cost of living that is 2% lower then the rest of the country as well as world renowned theme parks and sporting events.

Whether moving within the state or from another state, purchasing a home for your personal use or as an investment property, it is wise to have professional assistance when putting together a real estate transaction. An attorney can tailor the documents to your real estate deal and help negotiate on your behalf, mitigating the risk of any surprises at closing.