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South Florida

Florida real estate market stabilizing: survey

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While Florida’s real estate recovery may be tenuous, the public’s consensus is one of cautious optimism, according to a first-quarter survey conducted by the University of Florida’s Bergstrom Center for Real Estate Studies. Despite a 12.3 percent unemployment rate in March, respondents said that they believe the current real estate market — in both the residential and commercial sectors — has hit bottom. But this doesn’t mean it’s time to throw a party quite yet, said Timothy Becker, director of the Bergstrom Center. “One of our respondents summed it up by stating that ‘if anything, we will get less bad,'” Becker said. “Florida has hit bottom and is in the process of stabilizing across most property types.” TRD

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