Florida, USA - Florida Real Estate News: June 2018 Compiled by Fast Florida House Sales

Whilst real estate prices in Florida are climbing, the gains are falling behind the US national average, could this be the peak? With many high-profile properties achieving sales above expectations, now could be a great time to cash-in on the value of your property, before the bubble bursts. “Fast Florida House Sales”, cash buyers of any home in Florida, have compiled the latest news relating to real estate in Florida:

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Foreign buyers and Florida

On the tax reform law, “We’ll have to wait and see whether this impacts home buying in the future or not,” Yun said. But he echoed a sentiment expressed by many: The Florida market will be a “big beneficiary of net migration” from Americans fleeing such high-tax states as New York and New Jersey as the tax law chews into their income-tax deductions. “We’re already seeing that.”

Last year, foreign buyers bought $23.8 billion in Florida real estate, more than double the figure from a decade ago. Seventy-three percent of those 2017 purchases were all-cash, Yun said, because wealthy international buyers don’t need mortgages. The foreign property purchases account for 11 percent of the value but only 6 percent of the sales volume, indicating those purchases were primarily high-end homes.

The top international buyers of U.S. real estate last year came, in order, from China, Canada, Mexico, India and the United Kingdom.

Although most of the Chinese purchases were in California, “the Florida market certainly has a larger share of foreign investors,” Yun said. “We have greater contact with people of other nationalities.”

The state, he said, is also “raising the confidence of foreign buyers” with safe property investments that are bound to appreciate.

At the same time, the trend lines indicate a decline in international buyers. “We wonder if this is fear about a trade war,” Yun said. The potential outcomes of higher tariffs on Chinese imports and the impacts of NAFTA’s demise on Mexico could boomerang on the U.S. and cause a global recession, he said.

Click here to read our full Florida Real Estate News for June 2018 and to contact us if you are looking to sell your Florida home: fastfloridahousesale.com/florida-real-estate-news-june-2018/