The University of Florida’s Center for Real Estate Studies recently conducted a new statewide survey to gain insight into current trends in Florida’s real estate industry. The result predicts that even in the event of a worsening situation nationally, Florida will be less affected than other states due to the insulating effect of its population growth. Dr. Wayne Archer, director of UF’s Center for Real Estate Studies, says: Despite some people’s worst fears, housing is unlikely to suffer the same fate as tech stocks at the beginning of the decade.
At least not here in Orlando. It’s worth remembering that all real estate is local. The national economy could tank but if things in Orlando are booming, real estate will continue to sell. To gain a clearer picture of local conditions in our state, the Florida Association of Realtors conducted a recent study of Florida’s MSA’s (Metropolitan Statistical Areas defined by the U.S. Census Bureau). It found, among other things, that Orlando has one of the strongest economies in the nation. Things may have slowed for the time being, but with the baby boomer landslide toward Florida continuing and major industries like JetBlue moving in, Orlando real estate prices are likely to continue their upward drive.