Florida’s real estate recovery seems to be boosting consumer confidence, the Miami Herald reported.
A University of Florida survey showed confidence this month at its highest level since August 2007, when the Sunshine State’s economy was embroiled in a nationwide recession and housing market collapse.
UF analysts credited the bump to Floridians feeling better about their personal finances as well as the health of the national economy, according to the Herald.
Real estate, a bellwether of the Florida economy, has shown steady improvement, though the state remains one of the nation’s highest in foreclosures.
Today’s Standard and Poor’s release of the Case-Shiller index of real estate values show that property values have been on the rise in South Florida for 15 consecutive months – the longest streak since the market crash began in 2006 – with prices surpassing their 2006 peak. The university’s May reading of 81 falls short of 2006 levels, the last time it broke 90. [Miami Herald] –Emily Schmall