Several Florida Real Estate Markets Show Decline in Vacancies
The Florida real estate market just keeps getting better, according to a study conducted by ProLogis Research Group. The company´s report claims that the Florida market has entered "that stage of the real estate cycle where pent-up demand completely overshadows new supply and drives the vacancy rate lower."
Florida has posted vacancy rate declines for the first half of 2005, and of the top 30 markets, several of which are in Florida, the vacancy rate has dropped from 10.2 percent in the middle of 2004 to 9.0 percent in June 2005.
This decrease in Florida real estate vacancies is a product of rent costs levelling off and a continued surge in demand since late 2004.
Florida´s real estate market is so strong that two of its cities, Orlando and Tampa, are on ProLogis´ list of only ten markets nationwide that have fully recovered from the real estate dip between 2001 and 2003.
Florida has posted vacancy rate declines for the first half of 2005, and of the top 30 markets, several of which are in Florida, the vacancy rate has dropped from 10.2 percent in the middle of 2004 to 9.0 percent in June 2005.
This decrease in Florida real estate vacancies is a product of rent costs levelling off and a continued surge in demand since late 2004.
Florida´s real estate market is so strong that two of its cities, Orlando and Tampa, are on ProLogis´ list of only ten markets nationwide that have fully recovered from the real estate dip between 2001 and 2003.
<< Florida Homes for Sale News