There’s plenty of good news when it comes to the State of Florida’s real estate market and its economy. That’s the message that came out of a two-day conference focusing on real estate marketing trends.
The forecast for both the state and the nation’s economy was mostly cautiously optimistic. Recent real estate sales were reflective of a good state economy, with land value rising last year and high demand for residential development. Worldwide economic trends, however, could impact the Sunshine State in the future.
A final trade agreement with China could come this month, bringing an end to the tariff war. There’s also the pending approval right now of the U.S. Mexico Canada Agreement.
Uncertainty over Brexit, meanwhile, remains another major force that could impact the global economy. A withdraw under no terms would likely disrupt trade flows, harming Florida’s economy in the process.
Trade between Great Britain and Florida amounts to $4 billion a year. If Brexit should negatively impact Britain’s economy, it’s likely fewer British tourists would visit Florida, and that accounts for up to 1.5-million visitors a year.
Scot Karp, Director
Ultraluxury Condominium Division
PREMIER ESTATE PROPERTIES
Boca Raton, Florida
"RANKED IN THE TOP 250 AGENTS NATIONWIDE BY THE WALL STREET JOURNAL"