Throngs of newcomers to the Treasure Coast this year has culminated in a piping hot residential and commercial real estate market.
The problem is there’s not enough inventory to adapt — forcing prices to skyrocket.
Historically, that would deter buyers and cool the market. But not this time.
People continue to purchase properties, conforming to an expensive market that shows no sign of leveling out any time soon.
“I’ve been in the business since 1980 and I’ve never seen this before,” said Douglas Davis, president of Richard K. Davis Construction, a Fort Pierce commercial development agency. “I’ve been through all the ups and downs, cyclical recessions and booms, but this one takes the cake.”
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The Treasure Coast’s population…