- To prepare for 2023, the Realtors will analyze the latest insights into employment, migration, and Fed policy trends and how they affect Floridians
- Inflation, rising mortgage rates, and economic uncertainty caused the real estate market to shift in 2022
- The event will launch with Florida Realtors Chief Economist Dr. Brad O’Connor. He will share the latest trends for Florida’s economy and housing market.
With questions swirling surrounding the state’s real estate market, The Florida Realtors will look to answer these questions at this year’s Florida Real Estate Trends summit.
Set to take place Jan. 19 from 12:30-2:30 p.m. at the Renaissance SeaWorld Orlando, the group says they’ll take a deep dive and look into what may lie ahead in a still uncertain 2023 that is key for policymakers, residents and Realtors. The event will launch with Chief Economist Dr. Brad O’Connor sharing his outlook for Florida’s economy and housing market in the months to come.
The agenda includes the economic outlook for the U.S. and Florida; the state’s housing market outlook; migration trends for Florida; and also consumer motivations and expectations.
“Elevated mortgage interest rates and the economic well-being of consumers are two of the biggest stories going into 2023’s housing market,” says Dr. O’Connor. “At this year’s Florida Real Estate Trends event, we’ll be walking everyone through the current state of the market and where we expect to go from here. Inflation finally seems to be slowing, which is good news, but a lot still needs to happen before we’re going to see interest rates recede significantly.
The pandemic-charged housing market frenzy slowed dramatically as a result of soaring mortgage rates, inflation and other economic pressures.
Over the last two year, rents and home prices rose dramatically across Florida. Renters and buyers statewide were pushed to their limits, with South Florida residents continuing to face a housing affordability crisis.
Fortunately, rents are expected to stabilize as more apartments hit the market. The Realtors said this is just some of the good news to look forward to in the year ahead.
“We’ll also have Morning Consult Chief Economist John Leer on hand to give a comprehensive breakdown of how consumers – including potential homebuyers – are feeling as they continue to wrestle with these higher rates, as well as inflation and the widely perceived sense that the U.S. economy is slowing. 2023 is likely to be a bumpy ride but there is at least some light at the end of the tunnel, so be sure to join us to get a head start on this year’s Florida housing market.”
Morning Consult uses its high-frequency survey data to capture unique insights to keep a constant pulse on consumer sentiment, according to company officials.
The Realtors noted there are two ways to attend the 2023 Real Estate Trends event, either in person during Florida Realtors 2023 Mid-Winter Business Meetings or virtually.