Today I had the pleasure of virtually chatting with M. RYAN GORMAN, the President & CEO of Coldwell Banker. Ryan is a wealth of knowledge and shared his thoughts on the recent “shift” in the market and his predictions. And while we had some “technical” difficulties, the time was extremely valuable.
Click here for the full video: MARKET UPDATE w/ M. RYAN GORMAN, PRESIDENT AND CEO OF COLDWELL BANKER | with Shayla Twit
First, we discussed the shifting real estate market and the impacts here in Florida. We are still having a inventory shortage, but we are seeing price improvements, builders offering incentives, etc. Florida is still seeing a large influx of people moving to our state; an estimate of up to 900 or more per day, so the demand is still there!
Generally speaking, we are still seeing that the luxury market is performing very strong, and Ryan agreed that the first time buyer market is seeing the biggest struggle now.
The Florida market is strong, and will most likely continue to remain strong. People buy in Florida for the lifestyle; weather, beaches and activities. People are still doing that and enjoying the lifestyle that we offer here in Sarasota.
Last, the question on EVERYONE’S minds; are we IN a bubble/will see see a bubble? Ryan’s response: “Absolutely not” And he reiterated he does not anticipate a 40-50% market correction, as some have predicted.
If you have any questions at all about the market or curious my thoughts, I would LOVE to hear from you!