ORLANDO, Fla. – Dec. 14, 2015 – "For most of 2015, the Florida real estate market has outperformed the nation as a whole," says Florida Realtors Chief Economist Dr. John Tuccillo.
In recent months, however, the Florida market rise has eased off a bit – "catching its breath after a very hectic late summer and early fall," says Tuccillo.
"For 2016, we expect this settling down to continue," he continues. "Against the backdrop of an expanding state economy with growing employment, home sales should increase by 8-10 percent over 2015 (numbers) and home prices (measured as actual value) should rise by about 5 percent.
Tuccillo notes that a few conditions could impact 2016's outlook.
"The biggest potential snag to this forecast at the state level is the growing shortage of workforce housing in the more populated areas of the state," he says. "Florida is attracting jobs, and we need to do a better job creating housing options for the workers we are attracting from out of state."
National issues could also influence Florida real estate sales in 2016.
"On a national level, rising interest rates may cause a dent in the market, but it will not have a significant effect," Tuccillo says. "The new closing rules (TRID or Truth in Lending Disclosure) could cause delays in processing and may (affect) a significant number of sales."
International issues could also have an impact since the Sunshine State real estate market relies on foreign buyers.
"Looking a bit farther afield, weak economic growth in other countries will dampen international demand for Florida real estate – but foreign buyers will remain a noticeable presence in the market," Tuccillo predicts.
I enjoy walking the warm sandy beaches, swimming and watching the magnificent sunsets on Florida’s Gulf Coast. Thirty years ago I came from Michigan to the Sarasota area to enjoy the beaches of the Sunshine State. The “Beach Communities” Longboat Key, Lido Key, Siesta Key and Casey Key are what draw everyone to make Sarasota their home!
Sarasota the “Cultural Capital” of Florida attracts homeowners that want more than just a beach experience. Sarasota and Manatee communities with the growth of new housing maintain their elegant but laid back style. It is a great place to make it your home to be able to enjoy lush natural environment and the amenities of a modern city.
I became a home owne r in Lakewood Ranch an award winning 17,500 acre site that provides a beautiful master planned, maintained and golf community. Get the picture: blue waters, white sand, plenty of sun, blue skies, fabulous food, casual outdoor dining, amazing fishing, play golf, boat races, music and art festivals….
My focus is to best understand the goals and visions of my clients, ensuring all decisions are made with a wealth of information and the necessary tools for a successful, rewarding experience.
I have found my “Slice of Heaven” I look forward to you finding yours!
Check Your Furnace/Air FilterDepending on the size of your house and w
"Meeting Kathy for the first time bc she was so enthusiastic and professional. Kathy was responsive , professional, available , covered every aspect of this home purchase. Very experienced agent, understands and very knowledgeable about the Florida Gulf RealEstate market. Would highly recommend Kathy for family and friends Tom & Wanda"