Real Estate and its Economic Impact in Florida

By
Real Estate Agent with Coastal Properties Group Intl/Christie's International SL3231059

Did you know?

  1. The Real Estate Sector accounted for 21% of the state of Florida's Gross State Product in 2013, or $168 Billion.
  2. Property Taxes contributed $26.5 Billion to local governments, school boards and other taxing districts in 2013.

The Real Estate industry creates jobs. In 2013, 244,000 workers in Florida were employed in the construction, real estate, rental and leasing sectorsClearwater Beach

Real Estate drives the Florida economy, and REALTORS are working hard to keep our economic engine strong. Figures vary, but approximately 600-1,000 people EACH DAY move into our state. Why?

 

 

  • International Trade (40% of all U.S. exports to Latin and South America pass through Florida)
  • Tourism — with 87.3 million visitors in 2011 (a record number), Florida is the top travel destination in the world. The tourism industry has an economic impact of $67 billion on Florida’s economy. Click here for additional tourism facts and statistics.
  • Space Industry — The space industry represents $4.1 billion of the state's economy. The average annual wage of aerospace workers is approximately $67,000. The number employed at Kennedy Space Center (KSC) alone is 13,000 and Florida ranks 4th among the states in overall aerospace employment with 33,000 jobs.
  • Agriculture — Florida leads the southeast in farm income. Florida produces about 67% of the U.S. oranges and accounts for about 40% of the world's orange juice supply.
  • Construction — This industry's strength results from the steady stream of new residents and visitors who are welcomed to Florida each year.

 

Closed sales correlate to services neededBecause our industry touches so many facets from contract to close (and beyond), we employ and/or contract out with other service professionals to get or clients to those closings. I'm talking about administrative personnel, electricians, home inspectors, plumbers, contractors, flooring companies, home design, landscapers, property management, pool renovation companies, estate planners, title and mortgage companies, processors, tax accountants, and more. Basically, you name it, there is probably a way to connect to real estate! 

 

Coastal/Christie's is among the thriving real estate companies in Tampa Bay contributing to this turnaround, consistently ranked in the Top 5 in closed sales each month out of 500+ brokerages in Pinellas County (think Clearwater Beach and St. Petersburg!) Closed sales are THE most important factor when comparing brokerages. You want to work with professionals who are actively helping buyers and sellers close on properties in Tampa Bay, who utilize the above-mentioned services on a regular basis, who are aware of current issues and of course, who are knowledgeable about the industry as a whole. 

It is amazing to realize just how far-reaching our industry really does impact the Florida economy. If you're an agent in another state, you might be curious now about your own brokerage economic impact, as well as on a grander scale!

FOR MORE FACTS ABOUT FLORIDA, VISIT: http://www.stateofflorida.com/facts.aspx

 

Maria Kadau

www.FeaturedHomesofTampaBay.com

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