Who is buying Florida real estate?
A study conducted by the National Association of Realtors (NAR) for the Realtor Association of Greater Miami and the Beaches (RAMB) provides a profile of homebuyers in Miami-Dade and Broward counties. The 2008 Profile of Home Buyers and Sellers provides a comparison of the current state of the South Florida real estate market, and how it compares to the rest of the state and the nation.
- A significantly higher number of South Florida home buyers were born outside the U.S. 44 percent of South Florida buyers were not born in the U.S. compared to 17 percent in Florida and 9 percent in the U.S.
- The median age of South Florida homebuyers is 41 compared to 43 in Florida and 39 for the entire U.S. For first-time homebuyers, the median age in South Florida is 34 compared to 32 in Florida and 30 for the entire U.S.
- The 2007 median household income of homebuyers in South Florida was $74,000 compared to $68,500 in Florida and $74,900 in the U.S.
April 23rd, 2009 at 11:00 am
“A significantly higher number of South Florida home buyers were born outside the U.S.” —- Why don’t you just say it; it is a lot of Canadian Snowbirds buying Florida homes. Canadians love buying homes in Florida and with the depressed Florida home prices, I’m sure Canadian are flocking to buy there winter home in Florida.
April 24th, 2009 at 9:01 pm
I am not surprised with the stats on who is buying Florida Real Estate. Canadian Snow Birds, especially eastern Canadains are very comfortable with buying and wintering in Florida. And lets recognize that many of the projects, facilities and services are designed to interest and service that market. The folks of Florida have learned to do it right! And the snow birds love it there.
April 24th, 2009 at 9:25 pm
I am in contact with two agents in Florida who are telling me that things are really picking up over the past week. Still the sales are at the lower prices
April 28th, 2009 at 7:55 am
I believe now is the time to buy in Florida not only as a second home or vacation home but as an investment.Therefore,it is the time for investment in Florida and investor minded people will buy.I am pretty sure the next booming is not that far!