Presentation by John Tucillo, Florida REALTORS® chief economist, at the Florida REALTORS® District 12 Economic Summit.

1. The Economy and Real Estate
District 12 Presentation
June 20, 2013

2. Industry Data & Analysis
GDP and National Employment
-1,000,000
-800,000
-600,000
-400,000
-200,000
0
200,000
400,000
600,000
-10
-8
-6
-4
-2
0
2
4
6
January2008
March2008
May2008
July2008
September2008
November2008
January2009
March2009
May2009
July2009
September2009
November2009
January2010
March2010
May2010
July2010
September2010
November2010
January2011
March2011
May2011
July2011
September2011
November2011
January2012
March2012
May2012
July2012
September2012
November2012
January2013
March2013
GDP
Percentage
Growth (Left
Axis)
National
Employment
Change
(Right Axis)

3. Industry Data & Analysis
National Residential Sales
3,000,000
3,500,000
4,000,000
4,500,000
5,000,000
5,500,000 2008
2009
2010
2011
2012
2013

4. Industry Data & Analysis
National Median Home Price
$150,000
$155,000
$160,000
$165,000
$170,000
$175,000
$180,000
$185,000
$190,000
$195,000 May2011
Jun2011
Jul2011
Aug2011
Sep2011
Oct2011
Nov2011
Dec2011
Jan2012
Feb2012
Mar2012
Apr2012
May2012
Jun2012
Jul2012
Aug2012
Sep2012
Oct2012
Nov2012
Dec2012
Jan2013
Feb2013
Mar2013
Apr2013

5. Industry Data & Analysis
Florida Employment and Sales
7,600,000
7,800,000
8,000,000
8,200,000
8,400,000
8,600,000
8,800,000
0
5,000
10,000
15,000
20,000
25,000
Jan
2010
Mar
2010
May
2010
Jul
2010
Sep
2010
Nov
2010
Jan
2011
Mar
2011
May
2011
Jul
2011
Sep
2011
Nov
2011
Jan
2012
Mar
2012
May
2012
Jul
2012
Sep
2012
Nov
2012
Jan
2013
Mar
2013
Florida
Closed Sales
(Left Scale)
Florida
Employment
(Right Scale)

6. • Close to 7,000 workers were laid off at the close
of the Space Shuttle program at Kennedy Space
Center.
• Of those, 1,366 were highly-specialized scientists
and technicians.
• Space Coast EDC estimates 2.8 workers in
surrounding businesses depended on the
spending of each NASA employee, bringing the
combined negative impact to 26,6000 residents
• What do we do now?
Recovering from Economic Adversity

7. • $6.5 million recently awarded to Port Canaveral towards new cruise
terminal, in addition to Governor’s $24 million to widen and deep
end existing channel. These funds will work alongside $18 million in
homeland and state grants already in place.
• Metro Orlando Economic Development Commission established 40
projects this year.
– 4,604 projected jobs created through 2015
– $299,841,157 capital investment
– 1,805,549 square feet of leased or purchased space
• $2 billion investment in Lake Nona Medical City, clustering facilities
will foster growth and innovative research. Projected job creation of
30,000 jobs and $7.6 billion in economic impact by 2023.
• Orlando’s per capita income rose 1.2 percent in 2011 to
$31,700, marking the third straight year of increases in income
levels.
• Space Coast EDC currently vying for a bid from SpaceX, in hopes of
keeping Kennedy Space Center facilities in operation.
Recovering from Economic Adversity

8. Industry Data & Analysis
Residential Building Permits by County, 2004-2013
0
200
400
600
800
1000
1200
1400
1600
Jan-04
Apr-04
Jul-04
Oct-04
Jan-05
Apr-05
Jul-05
Oct-05
Jan-06
Apr-06
Jul-06
Oct-06
Jan-07
Apr-07
Jul-07
Oct-07
Jan-08
Apr-08
Jul-08
Oct-08
Jan-09
Apr-09
Jul-09
Oct-09
Jan-10
Apr-10
Jul-10
Oct-10
Jan-11
Apr-11
Jul-11
Oct-11
Jan-12
Apr-12
Jul-12
Oct-12
Jan-13
Permits
Orange
County
Osceola
County
Seminole
County

9. Industry Data & Analysis
Residential Price Index

10. Industry Data & Analysis
Single Family Homes, May 2013

11. Industry Data & Analysis
Price Tier Breakdown

12. Industry Data & Analysis
Distressed Properties