Many homebuyers (and renters) are flocking to South Florida from densely populated cities in the Northeast – Given the ability to now perform their jobs remotely. Combine this increased demand with limited supply – And it’s a sellers market, with sellers not having to lower their prices.
Add to that record low interest rates and consequently the ability for those seeking a home to buy more now than a year ago.
Florida has always been a top migration destination for residents of the Northeast, however the above factors combined with tax benefits, being able to get more space, better quality and newer construction homes for the same amount of money – Have accelerated the desire of many to move to South Florida.
Pandemic or not, many homes are being sold and rented sight unseen, having chosen a home after only seeing it virtually or through videos and photos.
To help illustrate how HOT the Florida real estate market is, the New York Times recently reported that the state is welcoming 950 new residents daily, an increase from the 777 new residents based on the Florida 35-year average.
Do you know someone interested in moving to South Florida? Have them contact Jason Taub, Realtor®. Available 24/7 and offering 100% virtual transactions for buyers and renters out of state.
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