Florida ranks 12th for economic health, 13th for economic activity.

6 06 2017

Economic growth varies from state to state, according to WalletHub’s analysis of its latest study on economic health. Out of 51 rankings (including Washington, D.C.), however Florida ranks 12th for “economic activity.”

The personal-finance website WalletHub conducted an in-depth analysis of 2017’s Best & Worst State Economies. In order to determine America’s top economic performers, WalletHub says its analysts compared the 50 states and the District of Columbia across 27 key indicators of economic performance and strength.

Overall Florida rankings (1=best, 25=avg.)

  • Economic activity: 13
  • Economic health: 12
  • Innovation potential: 30

Florida’s total score was 54.48. Washington ranked at the top with 76.54 followed by California with 73.78. At the bottom of the list, West Virginia ranked 28.14, with Louisiana one slot higher at 33.22.

Economic performance of Florida (1=best, 25=avg.)

  • No. 5 – GDP (gross domestic product) growth
  • No. 37 – Exports per capita
  • No. 2 – Startup activity
  • No. 35 – Percent of jobs in high-tech industries
  • No. 39 – Annual median household income
  • No. 3 – Change in nonfarm payrolls (2016 vs. 2015)
  • No. 23 – Government surplus/deficit per capita
  • No. 31 – Unemployment rate

Source: Florida Realtors, https://wallethub.com/edu/states-with-the-best-economies/21697/





2014 Northeast Florida Housing Market Report

23 01 2015

The 2014 Annual Report on the Northeast Florida Housing Market is out.  The sales price and inventory showed improvement but the market recovery was not as strong as in 2013.  We saw moderate inventory gains.

Overall, pending sales increased 10.3 percent. That’s the 5th consecutive year of sales gains. Median Sales Price of single-family homes were up 3.0 percent while condos and townhouses increased 4.8 percent.

In almost every community, foreclosure and short sale activity is declining and is near multi-year lows.

In 2015, watch for stronger seller activity to increase inventory levels.

The report is available for download at http://www.nefar.com/filebin/2014MktStatsAnnlRpt.pdf





New Home Sales Increased 6.4% in April

23 05 2014

Sales of new homes increased by 6.4 percent in April to a seasonally adjusted rate of 433,000, according to the U.S. Census Bureau.

Sales of existing homes also increased last month, but only by 1.3 percent, according to the National Association of Realtors.

Put the two reports together, and it’s an encouraging sign that housing has shaken off its winter-induced doldrums. But sales of both new homes and existing homes were below what they were in April 2013.

Lawrence Young, chief economist for the National Association of Realtors, expects total home sales for 2014 as a whole will be below what they were in 2013, primarily because of the “sluggish first quarter.”

The average price for a new house sold last month was $275,800, according to Census Bureau.

The median price for an existing home in April was $201,700, according to NAR.

Mortgage rates are trending down, but they’re still higher than were a year ago. The average 30-year fixed-rate mortgage was 4.14 percent with an average 0.6 point this week, according to Freddie Mac. A year ago, the rate averaged 3.59 percent.

Source: Jacksonville Business Journal





Residential Real Estate Price Growth is Strongest Since 2005

4 02 2014

Home prices — both nationwide and in Jacksonville — are on the rise, according to a report from CoreLogic.

Across the United States, home prices have increased 11 percent from December 2012 to December 2013, including distressed sales.

The CoreLogic Home Price Index report on Tuesday reported the 22nd consecutive monthly year-over-year increase in US home prices based on Multiple Listing Service data.

In Jacksonville, home prices increased 9 percent including distressed sales and 11.5 percent when distressed sales are excluded, on a year-over-year basis.

Sales jumped 1.5 percent from November to December.

The CoreLogic report follows a report from RealtyShack showing an increase in home flipping.

See the full CoreLogic report here.

Source: CoreLogic and Jacksonville Business Journal








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