Jan. 24, 2020

Expect Florida's Economy to Grow, Continue Strong in 2020

Florida Realtors Real Estate Trends summit: The U.S. economy is doing quite well – and Fla.’s economy is doing even better, economic experts told more than 400 Realtors at the 2020 summit. Factors that fueled fears of a possible recession have mostly faded.

ORLANDO, Fla. – The U.S. economy continues to grow – and Florida’s economy is doing even better, outpacing the nation’s growth, according to economic experts who spoke to a crowd of more than 400 Realtors® at the 2020 Florida Real Estate Trends summit on Thursday during Florida Realtors Mid-Winter Business Meetings.

“We’re in the 11th year of the U.S. economic recovery – the longest economic recovery in U.S. history – and there are no indications that’s going to end any time soon,” said Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Forecasting. “The national unemployment rate is 3.5%. The labor market is strong by virtually any measure: The number of available jobs exceeds the number of people seeking them and jobs growth is strong.”

Florida’s economy is doing “even better than the national economy as a whole and it has been since 2012,” he said. “Our unemployment rate is down to 3.3%. Florida’s GDP (Gross Domestic Product) continues to grow faster than the U.S.’s GDP, and our job growth rate is almost twice the national rate. Florida’s population growth is solid – the birth rates are better than the death rates, so we’re making new residents faster than we’re losing them.”

While the factors that fueled fears of a possible recession in 2020 have mostly faded, Snaith pointed out one area to keep an eye on: the U.S. debt, which now exceeds $23 trillion. Despite the high deficit, however, the U.S. continues to get the highest possible ratings on American bonds. He said that while he’s concerned with the amount of the debt, it’s the government’s ability to service that debt that really matters.

Snaith cited the economic crisis in Greece (which began in 2008) as an example, noting the cause was the country’s inability to service its sovereign debt owed to the European Union (EU). To avoid default on the debt, the EU loaned Greece enough money to continue its payments; now the repayments for that bailout will take decades.

He added that another factor that may be weighing on the economy and slowing expansion is the rapid growth of regulations. “Some regulations make sense,” Snaith explained, “but you have to weigh the benefit of the regulations against the cost. I think revisiting Dodd-Frank and other regulations make sense. To me, that is the secret sauce of economic growth.”

Providing an update on Florida’s residential real estate market, Florida Realtors Chief Economist Dr. Brad O’Connor agreed, and he anticipates a robust outlook for the state’s housing market. He noted that in-migration to Florida from other states remains strong, with the five top origin states being New York, Georgia, Virginia, Pennsylvania and New Jersey, respectively. In fact, that in-migration to the Sunshine State helped to drive increased home sales in 2018, picking up the pace from a 9% drop in home purchases in the state by international buyers.

“It was exciting to see the almost 6% growth (5.9%) in closed single-family sales in 2019 from 2018,” O’Connor said. “Florida topped over $100 billion (total of “$101.9 billion) in volume in home sales last year, up 8.3% from 2018; for condo-townhouses, we reached $31.6 billion in volume, up 1.8% over the 2018 figure.”

Unfortunately, he added, new listings for single-family homes and condo-townhouse units remained tight in 2019, with single-family homes down 11.4% and condo-townhouse properties down 9.7% compared to 2018.

“My final point: The median sales price still continues to rise, but looking at what the monthly mortgage payment is, that’s still a lot lower due to current historically low mortgage rates,” O’Connor said. “And that continues to drive sales and makes it a good time to buy.

“Overall, I think we can expect to see a similar amount of price appreciation over the coming year, at about 4%, and I think we’ll see a similar amount of growth in closed sales for 2020 at about 4%.”

The event concluded with experts addressing supply-side dynamics for new construction and development. Moderated by Jennifer Quinn, economist and director of economic development for Florida Realtors, the panel included Kristine Smale, senior vice president, Meyers Research; Matt Orosz, president and owner, Hanover Family Builders; and Brad Fess, founder of NuDesign Builders.

According to Smale, the three main factors constraining the supply side of new house are: higher construction costs, which moderated slightly in 2019 but are expected to rise again in 2020; a shortage of labor – 2019 had the largest amount of construction job postings since the Great Recession; and a lack of available, affordable land supply.

“Far and away, for us, it’s land – land availability and all the intricacies involved with that,” Orosz said. “From our perspective, especially in Central Florida, what is holding back growth and the market is local land supply, impact fees and land costs.”

As a remodeler, Fess said they face a slightly different problem, and that’s finding in-fill lots in very developed areas or homes to remodel for clients who want a smaller “jewel-box” home that still has all the amenities and custom, high-end finishes.

The title sponsor for the 2020 Florida Real Estate Trends was the Realtors of Broward, Palm Beaches and St. Lucie; co-sponsors included the Orlando Regional Realtor Association; the Realtor Association of Sarasota and Manatee; the Royal Palm Coast Realtor Association; the Realtors Association of Citrus County Inc.; and the Naples Area Board of Realtors®.

Jan. 23, 2020

Florida Realtors: Single-Family Sales Up 23.8% in December

Florida condo-townhouse sales were up 17.7% year-to-year. The statewide median price for single-family homes rose 5.9% to $270K, and condo-townhouse prices were up 8.1% to $200K. Pending inventory and new pending sales also rose statewide in both categories.

ORLANDO, Fla. – The holiday season was a time of good cheer for Florida’s housing market, with more closed sales, higher median prices and increased pending sales, plus more pending inventory in December 2019 compared to a year ago, according to the latest housing data released by Florida Realtors®.

Sales of single-family homes statewide totaled 25,557 last month, up 23.8% from December 2018.

“Continued low interest rates are sparking buyer demand across Florida; however, a constrained supply and tight inventory of for-sale homes is putting pressure on home prices to rise,” says 2020 Florida Realtors President Barry Grooms, a Realtor and co-owner of Sarabay Suncoast Realty Inc. in Bradenton. “Existing single-family homes had a 3.4 months’ supply of inventory in December, while condo-townhouse properties showed a 5.2 months’ supply. In a positive sign, new pending sales rose 11.9% for single-family existing homes last month and new pending sales for condo-townhouse units increased 8.3%.

“Buying or selling a home can be a complex process, but a local Realtor stands ready to help.”

Statewide median sales prices for both single-family homes and condo-townhouse properties in December rose year-over-year for 96 months in a row. The statewide median sales price for single-family existing homes was $270,000, up 5.9% from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Last month’s statewide median price for condo-townhouse units was $200,000, up 8.1% over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in November 2019 was $274,000, up 5.4% from the previous year; the national median existing condo price was $248,200. In California, the statewide median sales price for single-family existing homes in November was $589,770; in Massachusetts, it was $405,000; in Maryland, it was $301,000; and in New York, it was $280,000.

Looking at Florida’s condo-townhouse market in December, statewide closed sales totaled 9,605, up 17.7% from the level a year ago. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

Florida Realtors Chief Economist Dr. Brad O’Connor points out that Florida’s housing market this December showed very different data trends than the previous year. In December 2018, the state was experiencing weak existing home sales growth and rising inventory levels driven in part by higher interest rates, a troubled stock market and uneasiness generated by an impending shutdown of the federal government, according to O’Connor.

“Closed sales of existing single-family homes were up by nearly 24% compared to last December, while closings in the condo-townhouse category were up by almost 18%,” he says. “So why such a big jump? Well, part of it is explained by the fact that sales were unusually weak at the end of 2018, driven in part by a sharp increase in the average 30-year mortgage rate.

Of course, that doesn’t explain the entire increase in sales, he adds.

“The average 30-year mortgage rate spent the entire second half of 2019 in the range of 3.5% to 3.8%, flirting with historical lows,” O’Connor says. “And in the months since the mid-year yield curve scare that spooked the financial markets, the Federal Reserve has dropped the federal funds rate three times, restoring calm to the national economy. Here in Florida, we saw new pending sales for both property types begin surging in October, and now, with the December figures, we see a significant share of those deals successfully closed by year’s end.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.72% in December 2019, down from the 4.6% averaged during the same month a year earlier.

To see the full statewide housing activity reports, go to Florida Realtors’ Statistics and Research section on floridarealtors.org. Realtors also have access to local market stats (password protected) on Florida Realtors’ website.

Jan. 21, 2020

Flood History Website Could Give Buyers a New Tool

A research partnership working with eight universities says its online tool, searchable by address, will offer flood histories and future risk estimates by mid-2020.

NEW YORK – On Jan. 13, First Street Foundation launched Flood Lab, a research partnership that provides eight universities with its model that maps previous instances of flooding as well as future risks.

Using the dataset, the Wharton Business School at the University of Pennsylvania, the Massachusetts Institute of Technology, Johns Hopkins University and others will quantify the impacts of flooding on the U.S. economy.

The data will be made available to the public in the first half of 2020 in an online database searchable by home address. Matthew Eby, executive director of First Street Foundation, says the move could put pressure on prices of homes, municipal bonds and mortgage-backed securities linked to real estate in risk-prone areas.

Currently, insurers, mortgage lenders and investment firms obtain flood risk information from risk modeling firms like AIR Worldwide, CoreLogic and Risk Management Solutions. Verisk estimates that about 62 million American homes have a moderate to severe risk of flooding.

But Carolyn Kousky, executive director of the Wharton Risk Center, says Flood Lab could become disruptive in that it would provide data to the average homeowner to help them make the right decision for themselves.

Jan. 21, 2020

New-Home Starts Jumped 16.9% Higher in December

It’s the highest level in 13 years as the single-family home-start component rose 11.2%. For all of 2019, builders broke ground on 1.29M homes – the most since 2007.

WASHINGTON (AP) – Construction of new homes surged in December to the highest level in 13 years, capping a year in which falling mortgage rates and a strong labor market helped lift the prospects of the housing industry.

The Commerce Department reported Friday that builders started construction on 1.61 million homes at a seasonally adjusted annual rate in December, up 16.9% from the November pace of home building.

Housing construction has been rising since July, helped by falling mortgage rates and increased demand as the unemployment rate approached a half-century low. For the year, builders started work on a total of 1.29 million homes, the best showing since 2007.

The December building rate was the strongest number since December 2006 during the last housing boom.

Applications for building permits, considered a good sign of future activity, fell 3.9% in December to an annual rate of 1.42 million but remained well above the pace in July.

Construction of single-family homes rose 11.2% to an annual rate of 1.06 million homes last month while apartment construction fell 9.6%.

The 1.29 million units constructed for all of 2019 was up 3.2% from the previous year and the best showing since 1.36 million homes were built in 2007. As the housing boom was reaching its peak, construction was started on a total of 2.07 million homes in 2005, the highest total for any year in that boom.

By region, construction was up 25.5% in the Northeast, 37.3% in the Midwest, 9.3% in the South and 19.8% in the West.

Jan. 17, 2020

How Much Savings Can a Higher Credit Score Unlock?

Even a fair credit score costs you money: A buyer with a fair score pays $41.4K more than a good score over 30 years – and all other forms of credit cost more too.


NEW YORK – A higher credit score could mean thousands of dollars in savings on a mortgage, according to a new study from LendingTree that compares very good credit scores to fair ones. A fair credit score is considered to be one in the range of 580 to 669, while a very good credit score ranges from 740 to 799.

The average borrower with a fair credit score will pay about $261,076 in total interest over the lifetime of their mortgage. On the other hand, a borrower with a very good score will pay $219,660 – a $41,416 difference.

When LendingTree broke down the most common type of debts – credit cards, student loans, auto and more – mortgages occupied the highest in interest paid by a borrower by far.

LendingTree says that raising a credit score actually isn’t that difficult to do. A consumer can notice changes quickly too – even “substantial changes in a matter of days or weeks for things like paying down credit or debt,” researchers note. “Those who plan to take out a mortgage or other loan type should refrain from opening new credit accounts, as credit checks and young accounts can lower your credit rating.”

Credit monitoring can help identify what is having the biggest impact on your credit. Also, other steps to help improve a credit score:

  • Pay bills on time
  • Keep balances low or, better yet, payoff credit card debt completely
  • Don’t close unused cards
  • Keep your debt-to-income ratio low
Posted in National News
Jan. 15, 2020

2020 Real Estate Trends: What’s Ahead for Florida Real Estate?

Real estate helps drive growth, so insight into 2020 trends is valuable to Realtors and policymakers who should plan to attend the Florida Realtors’ event on Jan. 23.

ORLANDO, Fla. – Real estate helps drive Florida’s growth, and figuring out what lies ahead in 2020 is a key question for policymakers, residents and Realtors. That’s the focus of this year’s Florida Realtors® 2020 Real Estate Trends summit, which also will feature a panel discussion on the latest trends in construction and development.

Two highly respected economists – Florida Realtors Chief Economist Dr. Brad O’Connor and Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness – will share their insights at Florida Realtors 2019 Real Estate Trends on Jan. 23, 2020, from 12:30 p.m. to 2:30 p.m. Tickets are not required. The session is a highlight of Florida Realtors’ annual Mid-Winter Business Meetings, which take place from Jan. 22-26, 2020, at the Renaissance Orlando at SeaWorld, 6677 Sea Harbor Drive, Orlando, Fla., 32821.

Snaith will provide a thorough economic outlook for Florida and its diverse metro areas, while O’Connor will focus on the Sunshine State’s real estate market. He will recap how 2019 ended and share his expectations for the year ahead.

“Unexpectedly low mortgage rates were the big story in last year’s housing market, leading to more home sales across Florida than originally anticipated,” O’Connor says. “Meanwhile, home prices continued to march upward throughout the year, increasing affordability challenges in several markets around the state. The inventory of homes for sale remains low and builders are still unable to satisfy the demand driven by Florida’s strong, vibrant economy.

“Our primary focus at Florida Real Estate Trends 2020 will be to explore which of these trends will continue throughout the course of the next 12 months.”

Following the economic presentations, a panel of homebuilders and commercial real estate experts will share their 2020 outlook. Moderated by Jennifer Quinn, an economist and director of economic development for Florida Realtors, the panel includes Kristine Smale, who heads up the Meyers Research Advisory Team; Matt Orosz, co-president of Hanover Family Builders; and Brad Fess, owner of NuDesign Builders Inc.

The panelists will discuss topics such as the anticipated pace of new building in 2020 and the expected price ranges of the new builds, as well as obstacles hindering the development of affordable housing.

“Realtors and anyone interested in Florida’s future should attend the upcoming Real Estate Trends event,” says 2020 Florida Realtors President Barry Grooms, a Realtor and co-owner of SaraBay Suncoast Realty Inc. “The information you’ll gain will provide valuable insight for your business in the months to come.”

© 2020 Florida Realtors®

Jan. 10, 2020

Buy Vs. Rent: U.S. Evenly Divided but Buy Is Better in Florida

ATTOM: In 47% of U.S. markets, it’s better to rent than buy – but buying is better in most Fla. high-population counties, including Miami-Dade, Broward and Hillsborough.

IRVINE, Calif. – Jan. 9, 2020 – ATTOM Data Solutions’ 2020 Rental Affordability Report finds a fairly even split nationally on whether it’s better to buy or rent a median-priced, three-bedroom home. Of 855 counties analyzed, buying is more affordable than renting in 455 (53%)

In Florida’s largest counties, however, buying a home continues to be a better option. The report includes Miami-Dade, Broward and Hillsborough counties in its list of “counties with a population of at least one million where buying a home is more affordable than renting.”

Overall, ATTOM’s analysis found a split between different-sized markets, with ownership more affordable mainly in lightly populated counties and renting more affordable in more populous suburban or urban areas.

“Homeownership is a better deal than renting for the average wage earner in a slim majority of U.S. housing markets. However, there are distinct differences between different places, depending on the size and location from core metro areas,” says Todd Teta, chief product officer with ATTOM Data Solutions. He calls the cost of housing a “financial stretch … for individual wage earners throughout most of the country … But with interest rates falling, owning a home can still be the more affordable option, even as prices keep rising.”

Other study insights

  • Renting is more affordable than buying a home in 94 (69%) of the 136 counties in the report that have a population of at least 500,000 or more
  • Renting is the more affordable option in 36 of the 43 counties with a population of at least 1 million or more (84%)
  • Counties with a population of at least one million where it’s more affordable to buy include Miami-Dade CountyBroward County; Wayne County, Mich. (Detroit); Philadelphia County, Pa.; Hillsborough County; Cuyahoga County (Cleveland), Ohio and Allegheny County, Pa. (Pittsburgh)
  • Renting a three-bedroom property requires an average 37.6% of weekly wages across the 855 counties analyzed
  • The least affordable markets for renting are largely in California, Hawaii and Colorado
  • The most affordable rental markets are in Tennessee, New York, Alabama and Ohio
  • Median home prices rose faster than average fair-market rents in 575 of the 855 counties analyzed in the report (67.3%)
  • Average rents rose faster than median prices in 280 counties (32.7%)
  • Median home prices rose faster than average weekly wages in 567 of the 855 counties analyzed in the report (66.3%), including Miami-Dade County
  • Wages rose faster than average fair market rents in 484 counties (56.6%)
  • Average rents rose faster than average wages in 371 (43.4%)
Jan. 8, 2020

Half of Millennials Want a Home That’s Social-Media Ready

A study found why some younger buyers don’t like fixer-uppers: After sharing their purchasing adventure on social media, they want a picture-ready home after closing.

NEW YORK – Millennial homebuyers are more active on social media, and since they share more of their lives on social media, they’re also less likely than older generations to close on a house that’s not social-media ready after closing.

A Meredith Corporation study also found millennials more stressed out by the home-buying process, and planning to entertain more at home than other generations, according to the 2019 Better Homes & Gardens New Home Buyers report.

The study found that:

  • 65% of millennial homebuyers see purchasing a home as a good investment, versus 56% of both GenX and Boomer buyers.
  • 31% of millennials view home purchases as a sign of success compared to 22% of GenXers and 12% of Boomers.
  • Millennial buyers desire homes in major suburbs, in neighborhoods with good schools and quick commuting options and in proximity to stores like Trader Joe’s, and with room for pets.
  • 77% of recent millennial homebuyers own at least one pet they hope to accommodate, though pet ownership spans the generations, including 77% of GenXers and 68% boomers.

“For the modern millennial homebuyer, it’s about finding a place she can be proud of – and one that’s a welcoming setting for friends and family to gather,” says Stephen Orr, editor-in-chief of Better Homes & Gardens. “She wants a place to entertain, to raise a family and that’s pet-friendly. For her, a home represents an investment, of course, but also an important new canvas for self-expression.”

The study found that millennial homebuyers want their homes to be entertainment and social-media ready:

  • One in three recent millennial homebuyers say they need their home to be “attractive enough for social media.”
  • Almost half of millennial buyers have posted or plan to post photos of their homes on social media, versus 36% of GenX and 20% of Boomer buyers.
  • Millennials use social media to inform decisions during the home-buying process more than other generations: 21% report using Pinterest to gather information about purchasing a home, versus 14% of GenXers and 6% of Boomers.
  • 47% of millennials also use social media to decide what changes to make to their home, more than other generations compared – 35% of GenX and 16% of Boomers.
  • 89% of millennial buyers plan to entertain or host holiday gatherings in their new homes.

Desired features: In terms of dream home features, millennial, GenX, and boomer buyers all ranked a state-of-the-art kitchen as most desirable, followed by an outdoor pool. There were differences among generations in their third choices. Millennials favored his-and-her bathrooms in the master bedroom as their third most desirable feature, while GenXers preferred a movie theater/media room, and boomers wanted a three-car garage.

Managing stress: When it comes to their mindset, many millennials and GenXers are concerned with managing their anxiety level during the home-buying process, with 40% of millennials and 38% of GenXers reporting this issue versus 28% of boomers. More millennial buyers said they were concerned about knowing how to negotiate the home’s sale price (36%) versus 30% of GenXers and 20% of boomers.

Working with agents: According to the study, 86% of recent homebuyers across demographics worked with a real estate agent, and 97% said they would use an agent for future home purchases.

“Real estate agents bring incredible value to homebuyers in their role as a trusted advisor. And, since many homebuyers … view the purchase process as a stressful one, successful agents are there to ensure it is as smooth as possible by giving clients confidence in their choices and providing support where needed,” says Sherry Chris, president and CEO, Better Homes & Gardens Real Estate. “It’s also worth noting that home buyers often approach the purchase process having gleaned a lot of knowledge and insights from social media and home design and décor programming, so it’s up to the agent to manage expectations of what’s realistic while also working to deliver the home of their dreams.”

Jan. 7, 2020

Avoid Being Scammed: Don’t Abbreviate ‘2020’

If you usually date signed documents as “1/7/20,” make it “1/7/2020.” Empty space behind the first “20” makes it easy for scammers to change document dates.

NEW YORK – Security officials are warning consumers not to abbreviate “2020” in official documents. They say the shorter “20” can make it easy for scammers to commit forgery. They say the abbreviation makes it easy for scammers to change out the numbers on paperwork. For example, if you write a date like “1/3/20,” scammers could change it to “1/3/2000” or 1/3/2021.”

Instead, write out the full year as “1/3/2020” or, better yet, write out the name of the month as well to read “January 3, 2020.” It “could possibly protect you and prevent legal issues on paperwork,” Dusty Rhodes, a Hamilton County, Ohio, auditor told the USA Today Network.

Why would scammers change a date? They could seek to establish an unpaid debt or attempt to cash an old check.

Police departments across the country have urged the public to write out the year.

“This is very sound advice and should be considered when signing any legal or professional document,” the East Millinocket Police Department in Maine wrote in a Facebook post. “It could potentially save you some trouble down the road.”

Source: “Stop Abbreviating 2020. Police Say it Leaves You Open to Fraud and Could Cost You Big,” USA Today Network (Jan. 2, 2020)

Jan. 6, 2020

UF: Floridians Remain Confident Heading into the New Year

The Dec. sentiment index rose to 100.1 from Nov.’s 99.4. Many respondents were optimistic about U.S. conditions now and in the future, but a bit less so about their own.

GAINESVILLE, Fla. – As Florida’s unemployment rate reached a historic low, consumer sentiment among Floridians increased in December by seven-tenths of a point to 100.1 from November’s revised figure of 99.4. Similarly, consumer sentiment at the national level increased in December.

Among the five components that make up the index, three increased and two decreased.

Floridians’ opinions about current economic conditions were mixed. Views of personal financial situations now compared with a year ago decreased 2.1 points from 94.9 to 92.8 – but these views are divided across socio-demographic groups. Men, people younger than 60, and people with annual income under $50,000 expressed less favorable views while women, people 60 and older, and people with annual income of $50,000 or more expressed favorable views.

Opinions as to whether this is a good time to buy a major household item like an appliance increased 3.2 points from 103.3 to 106.5. This upward trend was shared by all Floridians with the exception of those with income levels above $50,000.

The three components representing future economic conditions were also mixed.

Expectations of personal financial situations a year from now dropped 6.4 points, from 108 to 101.6  a pessimistic view shared by all Floridians.

However, the outlook for U.S. economic conditions over the next year increased 4.3 points from 97.4 to 101.7; and expectations of U.S. economic conditions over the next five years increased 4.6 points from 93.2 to 97.8.

Florida began 2019 with high levels of consumer confidence, and April 2019 had the highest level in the last 17 years, contributing to an average of 98.9 in the first half of the year. In August, consumer sentiment dropped significantly due to the ongoing trade war with China, and the average consumer sentiment reading fell to 97.6 in the second half of 2019.

“Notably, the average consumer sentiment in 2019 is one-tenth of a point lower than last year’s average. Despite this slight decline in 2019, overall, consumer sentiment among Floridians remains high,” says Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research.

As 2019 ends, economic indicators in Florida have remained very favorable throughout 2019, and the prospects for 2020 are encouraging as Florida’s labor market continued to strengthen in the final months of the year. In November, 217,400 jobs were added statewide compared with a year ago, an increase of 2.5%.

Among all industries, education and health services gained the most jobs, followed by leisure and hospitality, and professional and business services. The only industry losing jobs over the year was information. The unemployment rate reached its historic low of 3.1% in November, down one-tenth of a percentage point from October’s rate.

“The year is ending with an overall positive economic outlook and high level of consumer confidence among Floridians. Looking forward, we expect consumer sentiment to remain high at the beginning of 2020,” Sandoval says.

Conducted Dec. 1-26, the UF study reflects the responses of 397 individuals who were reached on cellphones, representing a demographic cross section of Florida.

© 2020 Florida Realtors®