South Florida's housing market is strong in 2021. Home prices continue to climb and inventory remains low. It is a seller’s market with many sellers getting top dollar. After getting hammered by the pandemic, the Miami and South Florida housing markets bounced back in July. The demand for South Florida real estate has been increasing since then.
The homebuyers in the Charlotte housing market have dealt with a persistent seller’s market, which has shrunk inventory and driven up home prices. Charlotte's real estate market continues to boom without being affected by the pandemic. Homes are selling quickly, inventory is low and prices are rising fast. Last year was the eighth consecutive year of home price gains. The supply of homes for sale in the Charlotte MSA has now dropped to its lowest level in 17 years. There's just a little more than two weeks of inventory left.
If you are looking at buying real estate in Philadelphia in 2021, you must read until the end. Philadelphia is a hot seller's real estate market by all housing indicators. There is a huge gap between supply and demand leading to a rapid price appreciation. Philadelphia home prices rose by nearly 13% in 2020.
The same trend is predicted for 2021. Low-interest rates, tight supply, and high buyer-demand will keep the market hot and exert even more upward pull on house prices. The median sales price of single-family homes in the Greater Philadephia housing market has reached $315,000, up 14.5% year-over-year.
In the debate between residential vs commercial real estate investment, many ask, “Which is better?” The answer depends on a variety of factors such as your budget, your existing area of expertise, and your risk tolerance. We’ll explain how each of these factors can help you decide which is better in your case.
Residential or commercial real estate investing is more than just buying a home or looking for an investment property. Do you think it is easy to predict success in a real estate business, where circumstances keep fluctuating now and then? To some extent, the possible hindrances can be controlled with a set of ground rules which you need to implement on your next residential or commercial real estate investing deal.