If construction is any indication of the health of the real estate market, then Florida is doing quite well. From Oviedo real estate and Delray Beach real estate to Coral Gables luxury homes and Weston luxury homes, Florida is growing in the number of new jobs available for those in the construction industry.
A recent assessment by the Associated General Contractors of America found Florida ranking at or near the top of the number of jobs added to the construction industry over the last year. This spells good news for the real estate market across the state and urges buyers to start seriously looking into purchasing before prices start their inevitable rise.
Florida Construction Jobs
Florida added the most construction jobs between December 2015 and January 2016 with 7,900 jobs, which was 1.8 percent. The state also ranked well for the entire year falling only second to California in the number of construction jobs added.
Analyzing the months between January 2015 and January 2016, Florida added 30,500 jobs or 7.3 percent. California which added the most construction jobs during that time came in at 45,700 jobs or 6.5 percent.
The new data, according to officials with Associated General Contractors of America, is consistent with other economic figures. Recent spending data along with the growing demand for construction services in most parts of the country draws a rosy outlook for 2016.
The upturn in construction employment growth rates often precedes the overall business cycle upturn. These latest numbers are a good indicator that the economy is improving as a whole and the real estate and property market is as well.
With these numbers in hand, anyone thinking about investing in property, whether it be Oviedo real estate and Delray Beach real estate to Coral Gables luxury homes and Weston luxury homes, should move quick. The Federal Reserve recently held back from raising interest rates giving mortgage seekers additional opportunity to secure rates at some of its lowest. However, June may experience a rise so any truly interested Oviedo real estate buyers or those looking in other parts of the Sunshine State may want to think about sealing a deal now.
Construction and Other Jobs Near Oviedo Real Estate
In January, the Orlando Business Journal reported that the Orlando metro area led all metro areas in job gains over the year. When it comes to the mining, logging, and construction, the article cited +8,200 jobs in gains and cited the metro area’s over‐the‐year growth rates in mining, logging, and construction at +14.4 percent.
How to Buy New Oviedo Real Estate Construction?
When considering new construction remember to keep the following in mind:
1) Get it in Writing: Make sure you have accounted for all the details, such as missed deadlines and upgrade issues, among other things. Builders often have customized agreement documents. Be sure to get those in advance so you can sort through all the fine print.
2) Find a Realtor: You want a realtor who is experienced in new construction and is not affiliated with the builder. Secure a Berkshire Hathaway HomeServices Florida Realty professional to help represent you and your best interests.