“Though internet absorption in North Florida remained constructive in Q1 2023, occupancy could drift barely decrease than the historic pattern (95%) as a number of submarkets combine this subsequent wave of provide. Hire progress in Q1 2023 returned to regular historic ranges (2%-4%) whereas the MSA continues to be essentially the most inexpensive main Florida market. Resulting from stable job and wage progress fundamentals, Jacksonville continues to be a vacation spot for funding capital regardless of insurance coverage and capital market headwinds.“
