The Real Deal Miami

Florida consumer confidence bottoms out

June 25, 2008 09:04AM

Floridians’ consumer confidence is at its lowest level since the
surveys began 25 years ago, according to a state index. Falling housing
prices are a major factor in the dismal results. The Standard and
Poor’s/Case-Shiller home price index, a widely used measure of home
prices, found that South Florida home prices fell 4 percent in April
from March, and 27 percent from April 2007, in figures released
Tuesday. The state’s consumer confidence index, complied by the
University of Florida, dropped to 57, well below the record low of 64
recorded in December 1991.