The Real Deal Miami

Unemployment hurting housing market

November 01, 2010 12:00PM

New home absorption showed a slight increase in the third quarter, but
demand
is still soft due to the struggling economy, according to a
report by Metrostudy. Brad Hunter, chief economist of Metrostudy in
South Florida, said low demand, combined with unemployment, have worked
as a brake on the residential market. The data in the report includes
counties from Miami-Dade north to Indian River. In Miami-Dade County,
single-family home starts fell to 78 in the third quarter from 133 in
the second quarter. [SFBJ]