What’s ahead for Florida real estate?

by Kerrie Kennedy

Florida Realtors Chief Economist Dr. Brad O’Connor and Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness, will share their insights about Florida’s real estate market in 2020 at the upcoming real estate trends summit on Jan. 23.

“Unexpectedly low mortgage rates were the big story in last year’s housing market, leading to more home sales across Florida than originally anticipated,” O’Connor said. “Meanwhile, home prices continued to march upward throughout the year, increasing affordability challenges in several markets around the state. The inventory of homes for sale remains low and builders are still unable to satisfy the demand driven by Florida’s strong, vibrant economy. Our primary focus at Florida Real Estate Trends 2020 will be to explore which of these trends will continue throughout the course of the next 12 months.”

Following the economic presentations, a panel of homebuilders and commercial real estate experts will share their 2020 outlook. Moderated by Jennifer Quinn, an economist and director of economic development for Florida Realtors, the panel includes Kristine Smale, who heads up the Meyers Research Advisory Team; Matt Orosz, co-president of Hanover Family Builders; and Brad Fess, owner of NuDesign Builders Inc.

The panelists will discuss topics such as the anticipated pace of new building in 2020 and the expected price ranges of the new builds, as well as obstacles hindering the development of affordable housing.

“Realtors and anyone interested in Florida’s future should attend the upcoming Real Estate Trends event,” said 2020 Florida Realtors President Barry Grooms, a Realtor and co-owner of SaraBay Suncoast Realty Inc. “The information you’ll gain will provide valuable insight for your business in the months to come.”

Tickets are not required to attend the session, a highlight of Florida Realtors’ annual Mid-Winter Business Meetings, Jan. 22-26 at the Renaissance Orlando at SeaWorld.

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