According to economists speaking at Florida Realtors® 2013 Real Estate and Economic Forecast Conference in Orlando on December 12, 2012, the Florida real estate market should improve well in 2013.
Fannie Mae Chief Economist Doug Duncan said that the number of distressed properties should be reduced by almost half. Also aiding the real estate recovery, mortgage rates should remain low during the year. While prices are rising, we should not see any spike, just slow, steady increases.
“Florida’s housing market is back, with great possibilities for the future – but those possibilities are only beginning to be realized,” said Dr. John Tuccillo, chief economist for Florida Realtors.
Tuccillo expects sales to rise by 10% and prices to rise by 5% during 2013.