Consumer Confidence UP - Market Declines DOWN

A recent article from the Florida Realtor's Association, noted that Florida's consumer confidence was on the rise.

It is interesting that at the same time in the market, I am noting trends as of the 3rd quarter 2009, showing recovery of price/sf and in many cases - increase over the prior quarters:

You can see from the above market analysis - the overall 2009 market still has an average decline of 1.52% per month. However, the 3rd quarter is showing promise! And this is a trend I am seeing in nearly all of my appraisals over the month of August.

Additionally, the affordability of homes appears to be very healthy right now for buyers. Avergage price/sf in the qurrent quarter is still at or below that of 2004! So it looks like a good time to be a buyer!

Time will tell if the trends in the market truly bounce back. You can see in the 2nd and 3rd quarter above - the market shows some signs of stability among the average price/sf. However, the trend is still going down for both list price and sold price.

Another highlight though - is that Days on Market also appears to be leveling out now - somewhere around 90-180 days here in Central Florida! So buyers are getting active again! And of course, the volume of sales in 2009 has FAR surpassed that of 2008! Which means people are actually BUYING again!

Now, if only Florida could get that unemployment rate UNDER 10%....we'd be seeing even more health in today's market!

Well SunShine State......here's to better days ahead at least!