The Florida Realtors will look at real estate trends at a summit in Orlando later this month to offer insights on where the real estate market is headed in the Sunshine State in the new year.
Florida Realtors Chief Economist Dr. Brad O’Connor and Dr. Sean Snaith, the director of the University of Central Florida’s (UCF) Institute for Economic Competitiveness, will share their insights as part of the Florida Realtors’ annual Mid-Winter Business Meetings at the Renaissance Orlando at SeaWorld from Jan. 22 through Jan. 26.
Snaith will provide an economic outlook for Florida and its diverse metro areas while O’Connor will focus on the Sunshine State’s real estate market, including looking at how 2019 ended and share his expectations for 2020.
“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,” O’Connor added.
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.”