Improved economy looks to positive real estate outlook in Jacksonville
The inventory of homes and the month's supply of homes for sale in Jacksonville, coupled with the rosier economic outlook in the state, are portending positive things for the real estate market in the city. With both inventory and month's supply of homes relatively low in Jacksonville currently, local real estate experts are suggesting that more people are buying than selling, leading to twin bumps in both the real estate industry and the overall local economy.
"Buyers are pretty savvy; they're not concentrating on [troubled] properties any longer," a local real estate expert told The Florida Times-Union. "In Jacksonville right now, people can afford to move up, and that's good for the economy in general - it's the ripple effect. As long as Jacksonville continues to bring in jobs, doesn't lose jobs and there are no national disasters, we're out of the woods."
A recent report released by Inc. revealed that seven companies based in Jacksonville were on the magazine's list of the 500 fastest-growing companies in the country. This suggests that local companies are beginning to hit their stride, growing in revenue and likely prompting additional hiring.