The Fort Lauderdale real estate market has been on the rise and healthy for a while now and studies show it will be even better for 2018. According to a recent report from PriceWaterhouseCoopers and the Urban Land Institute, Fort Lauderdale comes in at #6 in this year’s Emerging Trends in Real Estate. The city has moved up in ranking by 29 spots and is notably the largest increase for the report.
There has been a positive feeling about the industrial, multifamily and single-family markets in Fort Lauderdale. The local economy health, investor demand and available capital are all showing good signs to be at an all-time high for next year.
The report also shared that the population gain for the city is expected to be 29,000 in 2018 ranging in age from 15 to 34. Fort Lauderdale’s booming economy is bearing many new jobs as well with 13.4% of the companies being less than 3 years old. This attraction along with the airport’s close proximity and international investors in nearby Miami have all played a part in its popularity.
The report has indicated positive activity overall for the whole United States. There will be 3 key factors that will all play roles in how the real estate market will be shaped. For one, the housing shortage which is in large part by baby boomers staying in their homes longer while there is a surge in younger buyers looking for properties. Generally speaking the smaller and more energy-efficient homes will be in high demand. Next will be multifamily housing. This market segment will remain positive as homebuyers who have difficulty in finding options to buy may turn to more affordable rental units while they search. Finally, senior housing is predicted to gain popularity. This segment of the population is staying in their homes longer and is also expected to grow by 25 million in the next 15 years.
Here is a quick look at the top city rankings from the report:
- Austin, Texas
- Salt Lake City
- Raleigh/Durham, North Carolina
- Dallas/Fort Worth, Texas
- Fort Lauderdale, Florida
- Los Angeles
- San Jose, California