Outlook for Florida Housing Market Looks Healthy for 2017
New Home Under Construction in Naples, Florida by Nova Homes of South Florida
As we head into many unknowns for 2017, one thing is certain. The economy is very strong and moving in the right direction. The New York Times reports "the economic recovery is finally showing up in the average American worker's paycheck in a big way." The labor department reported this past weekend that average hourly earnings rose by 2.9 percent last year, the best annual performance since the recovery began. Many economists expect the trend to gain momentum in 2017 as a tighter market forces employers to pay more to hire and retain workers. Diane Swonk, a veteran economist in Chicago states, "This is a turning point for the overall economy."
This is very good news for the building industry, as President Obama hands over the responsibility of the economy to Mr. Trump. In a recent study by Trulia, based on strong job growth, home searches and additional criteria, five of the top ten areas in the U.S. for building growth are in Florida, and four of those are on the Gulf Coast. Number two on the list is Southwest Florida. Other Florida areas listed are Jacksonville at number one, Daytona at number three, Tampa/St. Petersburg area at number five, and the Sarasota area is number ten. This is excellent news for the new year, and is based on solid numbers for our economy if the U.S. stays on the current track.
Nova Homes of South Florida is one of Southwest Florida's top builders, rated in the top 2% of nearly 200,000 builders in Florida. Homes range in price from the low $200s to over $2 million. For more information please call 239.307.6116 or visit www.novahomesbuilder.com