Consumers across the state of Florida feeling upbeat about economic situation

A survey conducted by the University of Florida has revealed that consumers who are located in the state are joining in with the rest of the county and feeling more confident and optimistic about the state of the economy after what have been a number of tough years.

According to the survey, consumer confidence across Florida rose by an impressive three points during the month of July when compared to the previous month, and confidence was up a staggering nine points when compared to July last year.

Speaking about the report, Chris McCarty, who is the director of the University of Florida’s Survey Research Center in the Bureau of Economic and Business Research, said: “Some of this can be attributed to a more positive housing picture in some areas of the state where prices are actually rising rather than falling.”

In fact, housing across the state of Florida has been showing a resurgence for the past few months as more and more people start to enter the housing market attracted by the low interest rates and steadying conditions.

During the month of June, the median price for a single-family home in the state of Florida rose to $151,000, which was an increase over the previous month’s median price of $147,000.  Short sales on foreclosed properties helped to drive the market, but an increase in building permits issued in the month of May also means that confidence is returning to the industry.

Despite this good news, Lynn Franco from the Conference Board, which is based in New York, moved to temper enthusiasm by stating: “Despite this month’s improvement in confidence, the overall index remains at historically low levels.”