ORLANDO, Fla., Jan. 15, 2015 — The real estate market plays a vital role in Florida’s economy, and figuring out what lies ahead in 2015 is a key question for policymakers, residents and Realtors®.
Several highly respected economists will share their insights on the state’s business climate and economy during Florida Realtors® 2015 Economic Summit on Jan. 21, 2015, from 1:30 p.m. to 5 p.m. This free conference takes place at the Renaissance Orlando at SeaWorld, 6677 Sea Harbor Drive, Orlando, Fla., 32821. The summit kicks off Florida Realtors’ Mid-Winter Business Meetings, which take place from Jan. 21-25, 2015.
“We anticipate the positive trends that developed last year to continue into 2015,” says Florida Realtors Chief Economist Dr. John Tuccillo. “Florida’s economy is producing significant numbers of jobs, in-migration is strong and the housing market will benefit. Florida Realtors expects home sales to increase by about 10 percent in 2015, and values to move upward at the historical average rate of 4.5-5 percent. Because of inventory shortages at the lower price levels of the market, measured median and average prices will rise by 10-15 percent – about the same as their performance in 2014.
He adds, “Both the economy and real estate will benefit from lower gas prices, which are expected to continue through the first half of the year. This will give consumers more spendable income, but will also allow them to consider buying homes farther from metropolitan centers, where home prices are lower. Florida’s economy also will benefit from both the expansion of the Panama Canal, which will bring new trade and employment opportunities to Florida, and from numerous transportation projects that are now underway or planned around the state.”
Speakers include Jesse Panuccio, executive director of the Florida Department of Economic Opportunity; Ted Jones, chief economist and senior vice president, Stewart Title Guaranty Company; and Dr. John Tuccillo, Florida Realtors chief economist. Attendees also will hear a panel of civic and business leaders discuss regional development and economic trends including: Christic Henry, president of the Council of Neighborhood Associations-Tallahassee/Leon County; Gregory J. Weiner, senior director of business development, Economic Development Commission of Florida’s Space Coast; and Tim Weisheyer, Realtor and chairman of the Osceola County School Board.
“We encourage Realtors to attend the economic summit and discover what’s ahead in 2015,” says 2015 Florida Realtors President Andrew Barbar, a broker with Keller Williams Realty Services in Boca Raton. “Learn what business trends may be developing for next year – the insights you’ll gain could help increase your productivity, expand your network and offer future business opportunities.”