Thursday, April 19, 2012

Building the blocks to a stronger housing market

An impressive panel of national housing experts came down to Sarasota on Wednesday to participate in a forum at New College of Florida examining what's next for the market, as I reported in my story today.

The group -- comprised of economists representing banks, home builders, mortgage institutions and even a couple housing market journalists -- discussed a myriad of issues impacting the industry, which still carries a heavy presence in Southwest Florida.

There was some good news. There was some bad.

Most agreed on a similar prediction of about 2.5 percent growth during the next two to three years, but nobody knows for sure.

As one economist put it, Southwest Florida's market fell so low, it really has nowhere to go but up.

"The toughest part of this whole cycle is everyone is paying attention to every single number," said David Crowe, chief economist and senior vice president for the National Association of Home Builders. "Everyone wishes it was better, and for housing, it's been a depression not a recession."

Those predictions will be put to the test today, when housing figures for the month of March are released at the national, state and local levels.

I will have a post up at Bradenton.com as soon as the numbers come out this morning, with a more developed story for tomorrow's paper.
(UPDATE 12:51 p.m. -- You can read about the latest numbers here.)

It will be interesting to see how sales and prices in Manatee reacted to what was largely a strong peak tourism season. Any early morning predictions?

For the latest business updates, you can also follow me on Twitter @JoshSalman

No comments:

Post a Comment