It’s no secret that people love Florida. Year-round sun, beautiful beaches, and low taxes have acted as a lure for home buyers for years, especially from northeastern states with higher taxes. Since the start of the COVID-19 pandemic, Florida’s low population density cities have added more allure for out-of-state buyers. While the numbers are still coming in, the estimated population increase in 2021, up until April, is 1.53%
Florida’s housing marketing has recently reported more closed sales, increased median sale prices, and a surge in new pending sales. Single-family home sales rose by 15.7% in just a year (from February 2020 to February 2021). Florida Realtors President, Cheryl Lambert, said of the increase, “Florida’s housing market continued its momentum in February, but higher interest rates could be a factor going forward.”
Homebuyers are not the only ones interested in moving to Florida. Even big tech companies are drawn in by the eternal sunshine and low taxes the state offers. Miami Mayor, Francis Suarez, has embraced promoting the city as an emerging tech hub.
For homeowners and buyers, this could be the best opportunity available to maximize profits. Property prices are predicted to stay where they are for a while. Leveraging your purchase power is extremely important at a time like this, and hard money lenders in Palm Beach are here to help. We will make your purchase process easy through our simple application process, which can be approved within minutes. To learn more about hard money loans in miami and Broward County hard money lending contact us at 954.419.3539.