Miami’s Real Estate Forecast Looks Good for 2018
December 13, 2017The last part of 2017 brought some challenges to the real estate market in South Florida after Hurricane Irma, but in true South Florida fashion, we are showing our resiliency. With year-round sunshine, endless water views, and global access to major business markets, the desire to own property in Miami shows no signs of losing steam in 2018.
Despite warnings of hurricanes and sea level rise, the market in Miami remains hot. Investors and residents are still buying properties.
Home prices have consistently risen over the past year and will likely continue to rise, meaning that there is still a strong demand in the market. The U.S. housing report still shows strength in all major markets, in which Miami ranks ninth.
Miami is more attractive to foreign buyers and businesses due to the global connection to Latin America and Europe. As the economy strengthens over the next year, and more jobs come into the area, housing will remain a necessity for those moving into South Florida.
For professional advice on all aspects of buying or selling real estate, please contact me at aross@miamirealestate.com or 305-960-2575, or come see me at the Compass office located at 2550 South Bayshore Drive, in Coconut Grove.
