May 26, 2015, Case Schiller released their March report of price growth for the top 20 US housing markets. Overall prices were up an average of 5%. San Francisco, Denver, Dallas, Miami and Tampa led the way.
June 12, Morgan Stanley, said, Housing has Wall Street Psyched About the Economy. It is positioned as the economic engine that will boost the economy in Q3 & Q4. Bolstered by higher than expected new jobs growth, Jonathan Smoke NAR said we are beginning to see the return of first time home buyers.
- Existing home sales are 6.6% higher for the first three months of 2015 than the Q1 2014. All regions of the country have grown.
- New home sales have outpaced growth over the past two years. Also, they are well below their average levels as the housing bubble formed in the years leading up to 2007.
- Home prices have risen in the first half of the year. Morgan Stanley estimates growth of 4.1% – 6.8%.
- Starts and permits are slightly higher for Q2, compared to 2014 Q2 (+3.9%). And the index of building permits, a combination of new construction and renovations permits, is up 8%.
UF’s Survey of Emerging Market Conditions released June 12, revealed that real estate pros believe that both consumer optimism and a strong economy statewide will keep both sales and rentals improving.
June 4-5, hundreds of ULI Industry leaders gathered in Ponte Vedra Beach at the Sawgrass Marriott to network and plan future development growth around the South Eastern, U.S. Florida product councils, mirroring the National model, dined together, June 3 and then met the next morning.
The Community and Housing Development Council started with a tour of nearby mater planned community, Nocatee‘s 75 acre amenity park. Tour leader, Parc Group President Rick Ray, explained how important their water feature was in making it the 3rd best selling master planned community in the nation. Legisative updates, Capital and Financing rounded out the council’s agenda.
Notable key note speakers included Global Futurist Jack Uldrich, who explained how important technology is to development. The self diving car for instance will nearly eliminate the need for vast parking lots soon. Mike Belmont, President, Minto Communities moderated one of the concurrent sessions on “Residential Trends Driving Profits”. Other general sessions included a look at Cuba and it’s potential for development as well as “What’s Next-Peeking Around the Corner” with presentations by Sydney Kitson, CEO Kitson & Partners and Peter Rummell, Chairman Rummel Munz Partners. Kitson outlined the status of their 19,000 acre, Babcock Ranch, Ft. Myers and its green partnership with FP&L that promises almost no carbon footprint largely due to solar, wind and other innovations. Rummell introduce a “Healthy Town” project being developed on a reclaimed greenfield in Jacksonville, where unintentional exercise drives residents to all around wellness: mind, body, soul & social. They have a base camp as the community nucleus, not a clubhouse.
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