Lawrence Yun, NAR Chief Economist, stated at the FAR Convention that he believes that the Naples- Marco Island market will have the greatest appreciation of any area in the state of Florida this year. He stated that our prices overadjusted down and that he predicts 15% appreciation in our market.
The signs of stability grow stronger. Florida’s economy is predicted to grow slightly in 2011 and the state’s population will increase which is always a plus for real estate. Luxury home sales are on the rise in the Naples & Marco Island area as well as other high-end markets around the state. “Wealthy people like Florida’s low-tax climate as well as the weather. They have no trouble financing a purchase, and they feel secure owning real estate as a hedge against future inflation. I’m very optimistic for 2011,” stated Palm Beach broker-owner, Linda Olsson. International buyers and investors are also predicted to lead the state real estate activity in 2011.
Housing starts are predicted to pick up to about 63,000 statewide as compared with 20,000 in 2010. Saunders of Michael Saunders & Co. in Sarasota noted that new construction has picked up on the Gulf Coast, particularly single-family homes . She added. “None of it is speculative building as each home has an owner who will move in at closing.” That is great news for market stability. Today’s buyers are focusing more on using their new house or condo themselves, rather that buying it as an investment, according to analyst Lewis Goodkin, president of Goodkin Consulting.
GAINESVILLE, Fla. – Jan. 25, 2011 – Consumer confidence among Floridians soared an unexpected seven points to 77 in January from the revised December index score of 70, according to a new University of Florida survey.
WASHINGTON (AP) – Jan. 25, 2011 – The Consumer Confidence Index rose in January to its highest level in eight months with Americans growing a little more confident about the job market and business conditions.
WASHINGTON – Jan. 27, 2011 – Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors® (NAR).
