Job Growth State by State- Florida Ranks #4!

Another great article on why buying a new home in Florida is a GREAT idea.  Especially new construction homes!  Want to buy an investment property and earn a rebate? Ask me how!  And see the reasons below why it looks to be a sound investment for years to come.   

On April 2nd NAR released its annual Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2013. The press release can be found here, with highlights and select charts from the report below:
  • Vacation home sales rose strongly in 2013, while investment purchases fell below the elevated levels seen in the previous two years.
  • Vacation-home sales jumped 29.7 percent to an estimated 717,000 last year from 553,000 in 2012.
  • Investment-home sales fell 8.5 percent to an estimated 1.10 million in 2013 from 1.21 million in 2012.
  • Owner-occupied purchases rose 13.1 percent to 3.70 million last year from 3.27 million in 2012.
  • The sales estimates are based on responses from households and exclude institutional investment activity.
  • Vacation-home sales accounted for 13 percent of all transactions last year, their highest market share since 2006, while the portion of investment sales fell to 20 percent in 2013 from 24 percent in 2012.
  • The median investment-home price was $130,000 in 2013, up 13.0 percent from $115,000 in 2012, while the median vacation-home price was $168,700, up 12.5 percent from $150,000 in 2012.
  • All-cash purchases remained fairly common in the investment- and vacation-home market: 46 percent of investment buyers paid cash in 2013, as did 38 percent of vacation-home buyers.

In conjunction with those interesting facts, NAR then went on to release the rankings of states in job growth.  Florida came in #4!  So if you were contemplating purchasing a home for investment here- I wouldn't wait much longer.  

Developers of condominiums near metropolitan downtown areas in traffic congested cities can anticipate turning a good profit- which is a GREAT reason to purchase a condo right now!  There are several NEW, as well as existing developments in the major metropolitan areas throughout Florida.