What phase of the market cycle is South Florida in?

[Jordan Hamilton]

Could anyone give me some guidance on the current market phase of South Florida / Florida in regards to buying multifamily apartments. I know that might be a large area to cover but looking for a general idea of what phase the market is in. My partners and I have been looking in South Florida all the way up to Orlando thus far. Since its my first deal I fear buying at the wrong time, though I know if the numbers make sense then that would take away most of the risk.

I have a real estate investment book (by David Lindahl) that describes there being a various amount of phases: sellers market, sellers market stage two, buyers market stage one & two. I know apartments help mitigate some of the risk because it is cash flowing each month while the overall appreciation can go up and down so its a little bit safer to buy something than it might be a SFR.

Any thoughts on this?

Thank you!