We are glad to see that the dream of homeownership did not completely disappear after the housing market took a tumble several years ago. Zillow, a well-known real estate website, recently conducted a survey from which it generated a confidence index (apparently that’s a thing) regarding the housing market. Interestingly, South Floridians came in with the second highest confidence index, just below the inhabitants of San Jose, California. We wouldn’t be surprised if those Silicon Valley folks are an optimistic bunch in general. However, we are pleased that South Floridians haven’t let the past deter their dreams of owning their own home.
The index revealed that 18 percent of the current renters in South Florida actually hope to purchase a home in the near future. This is higher than the national average of 10 percent and a clear sign of the noteworthy improvement in the South Florida housing market. Obviously, the landscape for buyers has changed over the years, but this inevitable increase in purchasing activity should help further improve the current state of affairs. The Miami Beach real estate market has certainly been booming, and we encourage those renters considering purchasing their own South Beach condo or Mid Beach property to start looking at the current inventory as it is rapidly changing!