Real Estate Trends: Fla. ‘outperformed’ the U.S

• Looking at all of 2016, the statewide existing homes market remained stable but was also relatively “flat,” according to O’Connor, though part of the reason for that year-to-year analysis was that “2015 was a pretty darn good year, sales-wise.” He also pointed out that a shortage of housing inventory in markets across the state, particularly for properties values at $200,000 or less, is impacting closed sales and putting pressure on median prices.
• According to Eisenberg, forces at work in Florida and across the U.S. that are dampening real estate sales include: Low inventory – December 2016 data, which is just a few days old, shows that the existing single-family home inventory nationwide is 3.6 months; in Florida, it’s 3.9-month months.
• Elliot Eisenberg, a nationally known economist and former senior economist with the National Association of Home Builders (NAHB); Michael Johnston, Florida regional sales manager, Wells Fargo Home Mortgage; Dr.
• Julie Harrington, director of Florida State University’s Center for Economic Forecasting and Analysis (CEFA), previewed elements of an economic impact study on Florida’s SHIP and SAIL funds by county that Florida Realtors commissioned CEFA to conduct.
• Looking ahead to the coming months, Florida Realtors Chief Economist Brad O’Connor announced to Realtors that the state association plans to soon release housing data metrics for Florida specific to cities and zip codes.
• In 2016, Florida’s economy outperformed the nation in part because of better job creation, according to several economists who spoke to a standing-room-only crowd of about 500 Realtors® at the 2017 Florida Real Estate Trends event Thursday during Florida Realtors Mid-Winter Business Meetings.

Source: Florida Realtors