The Atlanta Fed's SouthPoint offers commentary and observations on various aspects of the region's economy.
The blog's authors include staff from the Atlanta Fed’s Regional Economic Information Network and Public Affairs Department.
Postings are weekly.
Sunny in northeast Florida: More signs of a housing rebound
Residential real estate markets continued to recover in northeast Florida, according to a recent poll conducted by the Atlanta Fed. In late June, staff from our Jacksonville Branch along with the Bank's Center for Real Estate Analytics met with nearly 250 real estate professionals at the Florida Realtors conference in St. Augustine, Florida. Conference participants hailed from the Jacksonville, St. Augustine, and Gainesville areas, and most were residential real estate professionals. We asked a series of questions to ascertain the state of the residential real estate markets in northeast Florida. Their responses showed that conditions continued to improve.
For example, a significant majority reported that June home sales exceeded the year-earlier level.
In addition, the sales outlook for the remainder of the year was positive as most expected modest gains on a year-over-year basis.
Importantly, most participants agreed that home prices have bottomed or begun to recover.
And the majority of respondents anticipate modest home price growth during the second half of 2012 compared with a year earlier.
While these responses represent only a segment of the regional housing market, we read the results as further indication that the hard-hit residential real estate markets are making progress toward recovery.
By Jessica Dill
Whitney Mancuso, senior economic analysts in the Atlanta Fed's research department
TrackBack URL for this entry:
Listed below are links to blogs that reference Sunny in northeast Florida: More signs of a housing rebound:
- A Timely Talk with Energy Professionals
- A Closer Look at Earnings in the Southeast
- Has Southeast Manufacturing Found Some Optimism?
- WHAT WAS I THINKING?!?!
- Southeast Commercial Construction Continues Gathering Steam
- Employment Momentum Grows in Florida and the Retail Sector
- Conditions Soften for Southeastern Housing
- Music City Is Playing Your Song
- Signs Point Up for Regional Manufacturing
- South Florida Maintains Momentum
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- Banks and banking
- Beige Book
- Business Cycles
- Commodity Prices
- Consumer Savings
- Data Releases
- Disaster recovery
- Economic conditions
- Economic Growth and Development
- Economic Indicators
- Fiscal Policy
- Gulf Coast
- Health Care
- Holiday Sales
- Labor Markets
- Local Economic Analysis and Research Network (LEARN)
- Monetary Policy
- Natural Disasters
- New Orleans
- Oil Spill
- Real Estate
- Sales Tax