Despite some floodwaters, power outages, and damage, Miami-area Realtors say Hurricane Irma will have a nominal effect on local real estate with deals expected to resume quickly, according to Inman.

Miami Association of Realtors board chairman Christopher Zoller attributes better-than-expected conditions to the city’s underlying Biscayne Aquifer, largely comprised of porous, sturdy rock that drains quickly and mitigates flooding and standing water.

Still, the state’s force majeure provisions will likely decelerate deals in progress due to required repairs and follow-up inspections, according to Inman. Common issues in areas like Miami Beach include downed power lines and landscape debris. Realtors predict one to two months of slowdown followed by a boom, a precedent set after Hurricane Andrew in 1992. 

Billionaire real estate developer Jeff Soffer is also optimistic, per a CNBC report.

Soffer told the network’s “Power Lunch” program that residents recognize hurricanes as an unavoidable and predictable part of life in Florida.

Moreover, new code requirements following Hurricane Andrew have ensured that buildings are stronger and better suited to withstand major storms. Soffer’s high-profile real estate firm Turnberry Associates saw minimal damage within its portfolio, which includes the Fontainebleau resort.

Soffer said Miami real estate prices will not change, citing lighter damage, statewide preparedness, and an ongoing desire to live in Florida.

The Realtors Relief Foundation offers relief funds to Realtors facing uncertainty following Hurricane Irma, according to Inman. Both the Florida Association of Realtors and the National Association of Realtors are extending resources and services to those affected by the storm.