Many people of retirement age living in Florida consider downsizing their residence. This tends to occur because the kids are out of the house, and large homes require a fair amount of maintenance. However, some homeowners may be concerned about their ability to sell a large home to Millennials who often have different priorities when choosing a place to live.
Although Florida has mild weather all year, autumn still opens up opportunities for homebuyers. Most people seeking a new home do so in spring and summer, especially if they have children who need to start at a new school. As a result, the residential property market slows down in fall. People still in the market have less buyers to compete with. This often grants them greater negotiating power.
Many millennials living in Florida and around the country are struggling to find ways to buy a home. While this generation may seem to be taking its time in becoming homeowners, it turns out that there are multiple factors making it difficult for them to afford real estate of their own.
Rising rents and low vacancy levels may position the commercial real estate sector to provide stable returns to investors in Florida and around the country according to NAI Global. The real estate brokerage firm mentioned that demand was strong in the second quarter and could remain strong for the rest of 2017. The net absorption rate nationally in the industrial sector rose to 71.8 million square feet while rents rose 1.6 percent in the second quarter.