Everything in nature has its counterpart. What goes up, must come down. There’s day, and then there’s night. Real estate markets follow the same ebb and flow. Markets rise and fall as part of a continuous cycle that governs our industry.
In the following pages, you will see how the South Florida real estate market has performed in 2018, and what the likely direction will be moving through 2019. Our vibrant corner of Florida is drawing so much positive attention, both on a national scale and globally. The new tax laws have become a driving force, drawing individuals from traditional high income-tax states here to South Florida. As we look ahead, it will be interesting to watch what impact this will have on our local real estate market and economy.
Real estate markets in various price points through South Florida performed differently in 2018. Some markets experienced further growth and stabilization, while others, such as the luxury market, continue to be challenged.
Markets are nothing more than interactions between buyers and sellers. As prices climb and opportunities become attainable for fewer buyers, markets begin to experience strain. Until sellers begin to adjust their pricing to be in line with current market demand, positive trends do
not emerge. In today’s market, and as you’ll see in this report, “right-ricing” is becoming increasingly important.
As your real estate resource, I am always available to help you understand the market and utilize the insights detailed in these pages. Together, we can help you make a better move by keeping the market in sight.