A high percentage of real estate sales in Florida have typically come from foreign buyers.
With financial markets in their current state and exchange rates in favorable conditions for foreign currency, this trend seems to continue.
A recent poll taken by the Florida Realtors Association has shown that Canadians are some of the largest buyers of Florida real estate today.
“We’re dealing in a world where prices are starting to come back but there’s still room to go,” says Dr. John Tuccillo, chief economist for the Florida Realtors association. “There are areas here where there are still bargains.”
He says that although the market is improving, it is still years away from a full price recovery.
“We have gone way below the historical trend in prices in Florida. That suggests we will see in the future a return to that historical timeline. There is a lot of scope here for price improvement over the next 5 plus years, but there is still time.” details
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