The South Florida commercial real estate showed strong signs of growth this last year. B There as an overall high amount of property sales, rising home values, lower foreclosure rates, and lower mortgage rates as well. This trend is expected to continue into 2014. Scientists from the Florida Association of Realtors predict a 10 increase in residential sales alone.
The report also stated that the housing inventory is decreasing, which is contributing to the rising home prices.B B Some economists estimate that home prices will rise by 5 percent in 2014.
And while interest are not at their records lows, they are still under 5% which is historically still very low.B Foreclosures rates dropped by 39 percent in 2013,B bringing the lowest level of foreclosures on the real estate market since the second quarter of 2006.
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Tags: commercial real estate, commercial real estate in south florida, Commercial Real Estate Trends, South Florida commercial real estate, South Florida office property
