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Signs of Stability
January 12th, 2011 11:27 AM

Since many are looking for some positive signs in real estate for the new year, I thought I would pass on some interesting predictions from real estate experts and economists from a recent realtor magazine article:

"If you want a glimpse of what 2011 might have in store for Florida, just hit "replay."  We don't expect to see a dramatic turnaround or improvement, but at least the worst is behind us now.

From a statistical standpoint, 2011 is expected to be a growth year for Florida's economy. But from a practical standpoint, it may remain a bit flat.  Because unemployment is still in the double digits, it will prevent housing from really strengthening at a  rapid pace.   There won't be a downturn - just an extension of what we're seeing now.

On a positive note, Florida will achieve a 3% job growth in 2011 - more than any other state, with Orlando and Tampa growing the most.   The state's population will rise by 140,000 in 2011 compared with 100,000 in 2010. Housing starts will pick up to about 63,000 statewide, compared with 20,000 in 2010.  That means the new-home market will be slightly better than it's been the past few years. 

Another sign of health for Florida is that today's buyers are focusing more on using their new house or condo themselves, rather than buying it as an investment.  Affordability at the still low prices continue to play a key role in the pace of sales transactions.  The foreclosures and distressed sales will continue to be highly attractive to buyers at all price points, and this inventory needs to be reduced before we will see any real appreciation or price increases in the market."

Florida is still a great place to invest in a home or property.  We have 1,800 miles of coastline, 14 deepwater ports, 12 international airports, 1,200 miles of sandy beaches, and 1,250 golf courses - more than any other state.   There is something for everyone here and the sunshine state will continue to grow and prosper. . . . . .even if a little at a time.

 

 


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Posted by Barbara Doeringer on January 12th, 2011 11:27 AMPost a Comment

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