LOW INVENTORY IN REAL ESTATE
In this video we analyze how low inventory impacts residential communities in South Florida. For the analytics we selected waterfront community Poinciana Island Yacht and Racquet Club in Sunny Isles Beach. Corona Virus Pandemic changed preferences of homeowners – many people now want to have more living space in their homes and have more access to recreational activities not available in a condominium building. Low interest rates and migration to Florida from other states created very high demand for waterfront homes and townhouses. Another factor is the tragic event in Surfside, where a 12-story building collapsed on Thursday, June 24th. At the time of recording, we did not see any significant changes on the market, and we will continue tracking the inventory and the market conditions.