The South Florida property market has remained bullish and it keeps growing. And in July 2021, the BisNow South Florida Deal Flow and Investment Strategies Summit was held by investors to discuss the recent developments in the market. CARROLL owner M Patrick Carroll was among those who spoke at the convention.
The summit brought together many professionals in South Florida’s real estate industry. From brokers to economists, they analyzed the factors behind the booming interest in the sector and future market trends.
They discussed transactions between buyers and sellers, acknowledging that lately many investors have joined the sector. The investors noted that Florida’s rising population, good business environment, and low taxes favored market growth.
CARROLL founder M Patrick Carroll is seasoned in the real estate industry. His company supervises over 30, 0000 family units across seven states. In the meeting, he made some conclusions after in-depth research on housing trends.
He acknowledged that since the economy bounced back from the recession in 2008, families have been moving to urban areas. This is due to the desire to enjoy the cities’ facilities in addition to the job opportunities.
However, M Patrick Carroll predicts that people will begin relocating to suburbs in 2021. The factors contributing to this will be the affordable housing plans and the cheaper lifestyle in suburbs. He also believes that the work at home trend will continue to thrive.
M Patrick Carroll also told investors to be careful on the markets that are rising. He warned that they could be on the drop anytime as things do not go up forever. He also noted that an increase in interest rates could be detrimental to the market’s growth.
Increased investment is good for South Florida real estate. However, increased competition for the land is likely to cause a rise in land prices.
Investors should always be keen on the ever-changing market trends. This will enable them to make a good decision concerning any particular project.