South Florida’s residential sector faced pandemic headwinds, yet experts anticipated the region would lead national recovery. New York developer Shahab Karmely predicted accelerated migration southward, stating: “People who can, and who are fortunately able to, will leave New York City.”
Construction remained active across projects like Ocean Delray and 2000 Ocean in Hallandale Beach, offering luxury units at significantly lower per-square-foot rates than northeastern markets. Despite lending caution and reduced buyer foot traffic, analysts anticipated a sharp V-shaped recovery following virus containment.
