South Florida’s Recovery Still Evident Despite Job Losses
Venice FL Real Estate Venice Florida Real Estate
A year ago, The Miami Herald offered a mid-summer report card on the economic recovery of South Florida. They assigned grades to five key areas. The grades were based on how conditions have changed from the previous 12 months. The same exercise was repeated this month with varying results reported by Florida Realtors®.
South Florida has not yet received the latest job reports, but recent statistics show a significant slowdown. Miami-Dade, Florida’s largest local economy saw its job growth cut nearly in half in May to just 15,000 new positions a month.
Despite these job losses, housing appears to have turned a corner. Depreciating real estate is giving way to rising home values. After two years of meek job growth, unemployment rolls are diminishing. Lower gas prices have consumers feeling a bit more positive than they did a year ago, while foreign dollars continue to boost trade and tourism
