Even regions of Florida such as the Sarasota Bradenton region that have had good not great appreciation in real estate are expecting a slow 2006 and 2007. That is the word from John Tuccillo, former Chief Economist of the NAR at a local meeting.

Between five and 10 years from now, it will be a better market than last year,” said John Tuccillo, former chief economist for the National Association of Realtors. But, he added, “I’m not saying the next 18 months are going to a picnic.”
In addition to his former position with the National Association of Realtors, Tuccillo runs his own consulting business and is a professor at Catholic University.
Tuccillo and local real estate broker Michael Saunders of Michael Saunders & Co. on Thursday evening addressed more than 100 real estate agents and select clients about the current state of the real estate market as well as what the future may hold.
“They can hear it from me but it helps to hear it from a neutral party who is a national expert,” Saunders said.
Sales in the local real estate market fell off steeply during the first quarter of this year and many have tied that to the constantly rising prices, Tuccillo said. However, he said, the key to housing markets actually lies with jobs and population changes, not price.
The Sarasota-Manatee metropolitan statistical area’s employment growth ranks seventh in the country, Tuccillo said, guaranteeing a need for housing.
People who choose to retire in the area contribute to the growing number of jobs. These retirees are job creators, not absorbers, he said. via the Bradenton Herald

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