Economist and senior vice president for Credit Risk Management at Sun Trust Bank, KC Conway, stated recently that real estate professionals need to realize Florida is in a growth market. This statement closes the door on the stagnant market of the recession, and the future, in his opinion, looks as bright as the Florida sun in July. Mr. Conway’s outlook is shared by the Orlando Sentinel, whose 2015 economic forecast foresees real estate transactions escalating due to new employment opportunities. Real Estate Closing Solutions, Central Florida’s title insurance company, has complied a list of key points concerning real estate’s role in Florida’s upward growth trend.

  • Mr. Conway predicts Florida will claim the number one spot among states for job growth, beating out Texas and California.
  • The real estate market is tied to job growth, and the Orlando region has several high profile construction projects underway, including the I-Drive 360 retail and entertainment complex, a new downtown soccer stadium, new industrial facilities for Verizon and Voxx International, Universal Orlando’s newest hotel, and The Medical City.
  • Many corporations, including hedge funds currently based in New York, are relocating to Florida. Professional and technology job growth rate is expanding across the state as well.
  • The Panama Canal now offers port services from Florida, boosting tourism and bringing employment opportunities to port cities.
  • The real estate market can withstand one new apartment unit for every 7-8 jobs created; thus, the area is still ripe for considerable apartment growth. “We could absorb about 7,000 new apartments per year”, reports Conway.
  • Low energy prices nationwide spur vacations since Americans have more money in pocket to spend on family getaways, and view travel as less financially draining.
  • New technological wonders, such as 3D printing, will replace manufacturing and create new jobs while superseding others. Salons, restaurants, and medical clinic growth will continue to escalate.

Contact Central Florida title insurance company, RECS, at (407) 615-8550, or browse our website for more information concerning Florida’s real estate trends. We look forward to exceeding your expectations.