Total retail sales continued to steadily increase from the beginning of the pandemic through Q2 2021 as sales increased from $1.3 trillion in Q2 2020 to $1.6 trillion in Q2 2021, for a year-over-year growth rate of 28.2%.
Housing affordability, the desire to live in less dense areas, and in larger homes with the opportunity to work from home, and the demand from millennials as they start to form households and raise families are important factors that play into the decision of where to live and buy a home.
Florida metros are hot! According to NAR’s commercial metro market reports for 390 markets, Florida has five of the top ten markets with the strongest overall conditions in the apartment, office, industrial, retail, and hotel markets, according to NAR’s Commercial Market Conditions Index ranking.