IHS Predicts Big Economic Growth for Ocala

Ocala housing

IHS Global Insight’s new report for the U.S. Conference of Mayors has named Ocala in their top 10 list of metropolitan areas that are expected to see the most economic growth next year.

The forecast is that there is to be a large shift from the high performing energy areas that did so well in 2014 to the retirement and baby boomer areas of the South East.

Nowhere supports this better than Midland, Texas, the best economic growth in 2014, which grew 11.9%, is estimated to finish last in the list with only a 3.2% rise.

9 out of the top 18 economic hubs are in Florida, with Naples metro area topping the list with an expected growth of 4.9%. Predicted growth in Ocala is 4.2% whilst the Villages, a suburb of Ocala, is estimated to grow 4.7% during 2016.

The Villages, a retirement community that has been the fastest-growing city by population for the past two years, has a stated build-out of 100,000 residents. The growth in and around the boarders of the community is continuing to expand, and doesn’t look to be slowing down.

Marion County and Sumter County in general also look to be benefiting with steady growth as people see mid Florida as a great, affordable place to buy and invest.

In Ocala local population growth and job creation is breeding economic confidence resulting in a higher demand for quality housing, which in turn is putting upward pressure on house prices. House builders see profit once more in construction and are starting to build homes in desirable neighbourhoods.

Facebooktwittergoogle_plusredditmailby feather