Bloomberg reports today on the Florida housing study just released by Attorney's Title Insurance Fund. The report dishes out the good (Central Florida's relatively diversified economy should bottom out first), the bad (Speculative overbuilding will continue to plague areas such as Fort Myers and Cape Coral on Florida’s west coast) and the downright ugly (In Miami, condominium sales will not burn off excess inventory until at least 2015). Sales of homes in Florida have fallen 50% from the 2005 peak of 250,000, while annual housing starts of 50,000 are roughly 20% of the 264,000 new homes started in 2005. Of all Florida markets, the report says Orlando should bottom out first "because it has the least amount of standing inventory and employment and population growth have held up relatively well." Click here to download a PDF of the full 2009 report. Wednesday, January 7, 2009
No Florida Housing Recovery Until 2011
Bloomberg reports today on the Florida housing study just released by Attorney's Title Insurance Fund. The report dishes out the good (Central Florida's relatively diversified economy should bottom out first), the bad (Speculative overbuilding will continue to plague areas such as Fort Myers and Cape Coral on Florida’s west coast) and the downright ugly (In Miami, condominium sales will not burn off excess inventory until at least 2015). Sales of homes in Florida have fallen 50% from the 2005 peak of 250,000, while annual housing starts of 50,000 are roughly 20% of the 264,000 new homes started in 2005. Of all Florida markets, the report says Orlando should bottom out first "because it has the least amount of standing inventory and employment and population growth have held up relatively well." Click here to download a PDF of the full 2009 report. 
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