On January 28, a group of economists will come together to discuss Florida real estate’s future. The event, Florida Realtors 2016 Real Estate Trends, is part of Florida Realtors’ annual Mid-Winter Business Meetings, which take place from Jan. 27-31, 2016, at the Renaissance Orlando at SeaWorld, 6677 Sea Harbor Drive, Orlando, Fla., 32821.
According to Florida Realtors, “Speakers include Jonathan Smoke, chief economist for realtor.com, who will discuss current housing trends; Dr. Elliot Eisenberg, chief economist for GraphsandLaughs LLC and a former senior economist with the National Association of Home Builders (NAHB), who will offer insights about new home construction and the overall economy; and Dr. Brad O’Connor, Florida Realtors chief economist, who will unveil what’s next for Florida’s residential real estate sector.”
“In 2015, we saw very strong growth in both sales and prices for existing homes in Florida, particularly over the first three quarters of the year,” O’Connor says. “This growth was a direct reflection of Florida’s healthy rate of job creation over the past year, as well as a rising level of in-migration of residents from outside the state. We expect these positive trends in Florida’s economy to continue into 2016.”
Florida Realtors expects sales of existing homes in Florida to rise by about 8-10 percent in 2016, accompanied by a 5 percent increase in home values, according to O’Connor.
The real estate market plays a significant role in the Sunshine State’s economic growth. The optimism for Florida real estate’s future is an indication of a financially stable year for the state. Even though these numbers are calmer than the busy real estate market Florida saw last year, they are still above historical averages. Florida real estate’s future is bright, which is just another reason why Florida is a great place to live and/or invest in! Contact us at RE/MAX Paradise today to get started on finding your home in Miami!