Advancements in technology are impacting how professionals in the commercial real estate industry do their jobs. Florida investors may benefit from leaning how process automation, smart cities and more are changing how commercial real estate business is done.
Florida may be one of the sites for the next battle over the building of a pipeline, and the rights of property owners could be at stake. Already, eminent domain has been used to seize 160 homes in the planned path of the pipeline, which will run through Alabama and Georgia as well as Florida, and property values have plummeted for some homes that were not seized.
Commercial real estate investors in Florida and around the country can expect steady growth in the year ahead according to the National Association of Realtors. The trade association's first quarter outlook suggests that falling demand in larger cities was compensated for by increased activity in smaller markets during the fourth quarter of 2016. Economists expect the U.S. economy to grow by 2.4 percent in 2017, and the NAR believes that this will cause vacancy rates in most commercial property segments to decline.
Florida residents may have heard that single-home sales were lower than expected for January 2017. According to the Commerce Department, there was a 3.7 percent increase to a seasonally-adjusted rate of 550,000 units. However, economists had forecast an increase of 6.3 percent to a seasonally-adjusted rate of 570,000 units. The data still points to a strengthening housing market despite higher interest rates and rising prices.