Abstract
This paper applies Opportunity Recognition Theory to examine the impact of the COVID-19 pandemic on Florida’s real estate market, highlighting how real estate professionals identified and capitalized on new opportunities. The study analyzes state-level data on migration trends, housing prices, and policy impacts, using a mix of qualitative and quantitative methods to assess market shifts. Key drivers, such as migration, remote work, and the shift to suburban living, are explored. The research shows how Florida’s favorable tax policies and government programs, like the Affordable Housing Coronavirus Relief Initiative, helped real estate professionals adapt. The findings reveal a significant surge in home prices during the pandemic, with suburban housing and affordability challenges becoming especially critical in 2023. The paper also lays the groundwork for future studies on long-term trends in Florida’s real estate market, including housing affordability, migration patterns, and sustainable development, providing practical insights for professionals to navigate future disruptions.
Recommended Citation
Ozgen, Eren and Murzyn, Zachary
(2024)
"The Impact of COVID-19 on the Real Estate Market in Florida: Insights from Opportunity Recognition Theory,"
Journal of Business, Industry, and Economics: Vol. 29, Article 4.
Available at:
https://roar.una.edu/jobie/vol29/iss1/4