The Real Deal Miami

State recession may be easing

September 30, 2009 09:22AM

Home prices and consumer confidence are on the rise in Florida for the second straight month, indicating that the worst of the recession may be over in the region. While a long, uneven recovery awaits, there are signs that the housing market is stabilizing. The S&P/Case-Shiller home price index showed South Florida home prices rose 1.3 percent in July after a pickup in purchasing. The average price for the region is still down 21 percent. Florida went against the national current regarding consumer confidence, which slid by 1.4 percent to 53.1 in September, according to the Conference Board. But the University of Florida’s latest survey showed consumer confidence rose three points in September to 74, following a revised increase of four points in August.