Local forecast and snapshot
The forecast report indicates that among some of Florida’s larger markets – particularly Broward, Orange and Palm Beach counties – closing volumes for new home units will be stable in 2007 and 2008 before increasing to higher levels in 2009. Conversely, pricing will be relatively flat in these counties during this same time period and will not rise appreciably until 2009.

In two other large markets in the state – Dade and Hillsborough counties – new single-family home closings are expected to continue to drop in 2007. For Dade County sales are expected to begin increasing again in 2008, while Hillsborough County will have a downward trend expected to continue through 2008.

The forecast also shows that closings for existing single-family homes are expected to modestly increase in most markets after hitting their respective low points. For example, the market in Palm Beach County peaked in 2004 at 29,000 units while closing activity is forecasted to decline to a low point of 18,000 by the end of 2006, with steady increases by 2009.

To find more information on your local residential real estate markets go to:
Florida Association of Realtors
The 2007 Fund Real Estate Index Forecast