• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
MENUMENU
MENUMENU
  • Home
  • About
    • Contact Us
    • FlaglerLive Board of Directors
    • Comment Policy
    • Mission Statement
    • Our Values
    • Privacy Policy
  • Live Calendar
  • Submit Obituary
  • Submit an Event
  • Support FlaglerLive
  • Advertise on FlaglerLive (386) 503-3808
  • Search Results

FlaglerLive

No Bull, no Fluff, No Smudges

MENUMENU
  • Flagler
    • Flagler County Commission
    • Beverly Beach
    • Economic Development Council
    • Flagler History
    • Mondex/Daytona North
    • The Hammock
    • Tourist Development Council
  • Palm Coast
    • Palm Coast City Council
    • Palm Coast Crime
  • Bunnell
    • Bunnell City Commission
    • Bunnell Crime
  • Flagler Beach
    • Flagler Beach City Commission
    • Flagler Beach Crime
  • Cops/Courts
    • Circuit & County Court
    • Florida Supreme Court
    • Federal Courts
    • Flagler 911
    • Fire House
    • Flagler County Sheriff
    • Flagler Jail Bookings
    • Traffic Accidents
  • Rights & Liberties
    • Fourth Amendment
    • First Amendment
    • Privacy
    • Second Amendment
    • Seventh Amendment
    • Sixth Amendment
    • Sunshine Law
    • Third Amendment
    • Religion & Beliefs
    • Human Rights
    • Immigration
    • Labor Rights
    • 14th Amendment
    • Civil Rights
  • Schools
    • Adult Education
    • Belle Terre Elementary
    • Buddy Taylor Middle
    • Bunnell Elementary
    • Charter Schools
    • Daytona State College
    • Flagler County School Board
    • Flagler Palm Coast High School
    • Higher Education
    • Imagine School
    • Indian Trails Middle
    • Matanzas High School
    • Old Kings Elementary
    • Rymfire Elementary
    • Stetson University
    • Wadsworth Elementary
    • University of Florida/Florida State
  • Economy
    • Jobs & Unemployment
    • Business & Economy
    • Development & Sprawl
    • Leisure & Tourism
    • Local Business
    • Local Media
    • Real Estate & Development
    • Taxes
  • Commentary
    • The Conversation
    • Pierre Tristam
    • Diane Roberts
    • Guest Columns
    • Byblos
    • Editor's Blog
  • Culture
    • African American Cultural Society
    • Arts in Palm Coast & Flagler
    • Books
    • City Repertory Theatre
    • Flagler Auditorium
    • Flagler Playhouse
    • Flagler Youth Orchestra
    • Jacksonville Symphony Orchestra
    • Palm Coast Arts Foundation
    • Special Events
  • Elections 2024
    • Amendments and Referendums
    • Presidential Election
    • Campaign Finance
    • City Elections
    • Congressional
    • Constitutionals
    • Courts
    • Governor
    • Polls
    • Voting Rights
  • Florida
    • Federal Politics
    • Florida History
    • Florida Legislature
    • Florida Legislature
    • Ron DeSantis
  • Health & Society
    • Flagler County Health Department
    • Ask the Doctor Column
    • Health Care
    • Health Care Business
    • Covid-19
    • Children and Families
    • Medicaid and Medicare
    • Mental Health
    • Poverty
    • Violence
  • All Else
    • Daily Briefing
    • Americana
    • Obituaries
    • News Briefs
    • Weather and Climate
    • Wildlife

UF Survey: Political Acrimony and Economic Ills Hurt Real Estate’s Outlook in Florida

August 15, 2011 | FlaglerLive | Leave a Comment

Still no sharp future for Florida's housing market. (Erik Forsberg)

Economic worries and continued acrimony among lawmakers have claimed yet another casualty: The outlook for real estate markets in Florida declined slightly through the second quarter of 2011, according to a new University of Florida survey. (See the full report below.)


Click On:

  • Is Flagler County’s Real Estate Industry Finally Brightening? Depends Whom You Ask.
  • From Federally Owned Foreclosed Homes To Rental Properties: Can It Work?
  • GMAC Mortgage Machination: Don’t Have Document to Foreclose? Make It Up
  • Sprawl-Fighting State Oversight Agency Is Dissolved, To the Delight of Local Developers


The Survey of Emerging Market Conditions, conducted quarterly by the Kelley A. Bergstrom Center for Real Estate Studies at the Warrington College of Business Administration, concluded that economic and political worries were key components in the decline.

“Uncertainty in the direction of the economy and the political gridlock in Washington weigh[ed] on respondents’ minds,” said Tim Becker, director of the Bergstrom Center. “This prevents companies — making record profits — from investing in personnel. Consumers, uneasy about their own jobs and the slow economic growth, continue to limit spending, which drives a significant portion of gross domestic product. Resolution to the government spending issues in the short and mid-term would help provide more certainty to the marketplace, and is a needed component for meaning improvement in the real estate markets.”

Those doubts affected UF’s Commercial Real Estate Sentiment Index, which declined for the first time since the third quarter of 2009, and high unemployment figures played a role in that decline.

“Even though unemployment in Florida improved in many markets, the pace of change and the still-high levels are affecting the pace of improvements in the real estate markets,” Becker said. “Consumers continue to be cautious and pessimistic about their own spending, which is also affecting the rate of fundamental improvement.”


One of the measures used to gauge the health of the residential real estate market is the absorption rate, which is the rate at which the inventory of homes for sale is being sold. The higher the rate, the more active the market. In the latest UF survey, the outlook for new single-family home absorption declined because of the struggling economy, but the outlook for condominium absorption increased for the third consecutive quarter to a new survey high. Becker said a large influx of foreign investment in Florida’s condo sector is a reason for the improvement.

The outlook for prices of new single-family homes and condominiums increased this quarter, as did expectations for occupancy for apartments and condo conversions. Respondents believe current occupancy levels warrant price increases in line with inflation despite a sharp drop in apartment investment, Becker said.

The outlook for industrial occupancy declined for both warehouse and flex space, but the outlook for investment in warehouse space increased. The outlooks for occupancy in office and retail space also declined, but respondents believe occupancy levels will stabilize. Land investment and capital availability also declined, Becker said.

The apartment market continues to be the best performing asset class, Becker said, driven by changing demographics and continued home foreclosures, which has increased growth both in supply and rental rates.

“The race is already on to find new development opportunities to address the coming shortage of quality units in major markets,” Becker said.


Video: Tourism Up, Real Estate Down[media id=233 width=350 height=250]

The hospitality sector also has been healthy as an improving tourism market has improved hotel performance as seen by increasing occupancy and daily rates, Becker said. The number of visitors to Florida in the first quarter rose by 3.3 percent to more than 23 million, Becker said. He also said the dollar’s weakness against foreign currencies is driving more foreign tourism, which is leading to an increase in investment from foreign investors into Florida.

“Overall the future remains uncertain and will continue to depend on policies from Washington that effect both spending and job growth over the coming quarters,” Becker said. “Positive steps in either or both of those areas with have a positive impact on real estate markets.”

The survey is the most extensive of Florida professional real estate analysts and investors conducted on an ongoing basis. The total number of participants in the current survey is 172, who represent 13 urban regions and up to 15 property types.

–University of Florida


UF Real Estate Survey, 2nd Quarter 2011 –

Support FlaglerLive's End of Year Fundraiser
Thank you readers for getting us to--and past--our year-end fund-raising goal yet again. It’s a bracing way to mark our 15th year at FlaglerLive. Our donors are just a fraction of the 25,000 readers who seek us out for the best-reported, most timely, trustworthy, and independent local news site anywhere, without paywall. FlaglerLive is free. Fighting misinformation and keeping democracy in the sunshine 365/7/24 isn’t free. Take a brief moment, become a champion of fearless, enlightening journalism. Any amount helps. We’re a 501(c)(3) non-profit news organization. Donations are tax deductible.  
You may donate openly or anonymously.
We like Zeffy (no fees), but if you prefer to use PayPal, click here.

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • Conner Bosch law attorneys lawyers offices palm coast flagler county
  • grand living realty
  • politis matovina attorneys for justice personal injury law auto truck accidents

Primary Sidebar

  • grand living realty
  • politis matovina attorneys for justice personal injury law auto truck accidents

Recent Comments

  • FlaglerLive on John Thrasher, Who’d Represented Flagler County in the Senate and Led FSU, Dies at 81
  • FlaglerLive on ICE Arrests More Than 100 in Raid of Construction Site Near FSU
  • Pierre Tristam on Israel’s Catastrophic Starvation of Gaza’s Millions
  • Ann Walton on Flagler Beach Secures All FEMA Funds for New Pier, Construction of $14 Million Replacement Begins June 16
  • Mort on Answering Lawsuit, Palm Coast Accuses Mayor Norris of Frivolously Weaponizing Court Against Gambaro’s Legitimacy
  • Old Rumrunner on Sales Tax Cut Appears Dead as House and Senate Leaders Agree to More Limited Exemptions
  • Hazel the maid on Israel’s Catastrophic Starvation of Gaza’s Millions
  • Wow on Palm Coast Man, 55, Arrested on Felony Animal Cruelty Charge for Asphyxiating Dog That Attacked His Chihuahua
  • Dog Choke on Palm Coast Man, 55, Arrested on Felony Animal Cruelty Charge for Asphyxiating Dog That Attacked His Chihuahua
  • Ed P on ICE Arrests More Than 100 in Raid of Construction Site Near FSU
  • Joe D on The Daily Cartoon and Live Briefing: Saturday, May 31, 2025
  • Gary on Palm Coast Man, 55, Arrested on Felony Animal Cruelty Charge for Asphyxiating Dog That Attacked His Chihuahua
  • Sherry on Why the Far Right Fabricated the Myth of a Migrant ‘Invasion’
  • William Moya on Local Police Collaboration With ICE Undermines Public Safety
  • Marek on Local Police Collaboration With ICE Undermines Public Safety
  • Pogo on Local Police Collaboration With ICE Undermines Public Safety

Log in