Florida’s Economic Woes Continues

By: Whitney Ray

Source: flanews.com

Pending home sales have risen seven percent in some parts of Florida. The increase is being attributed to falling home prices. The increase in the housing market is bittersweet and things in Florida could get worse before they get better.

With falling prices fueling a slight increase in the state’s housing market, real estate agents are chomping at the bit to get a piece of the action.

Coldwell Banker is offering a ten percent discount on some of its listing in Florida to people who buy before October 19th.

“We’re trying to gain the interest of the buyers who are there and we are. I think people are aware that there are some good buys out there,” said Ann Brockett, the Managing Broker for Coldwell Banker Hartung.

While the news is bittersweet for Florida’s real estate market, it’s all bad news on the jobless front.

In a cascade of events that started with a slow down in the construction industry and trickled down to small businesses, the state’s workforce suffered huge blows. Florida’s unemployment rate is at a 13 year high and exceeds the national average.

Governor Charlie Crist spent an hour meeting with Florida bankers. Afterward we asked if Florida is in a recession.

“The economy’s tough. I don’t know what you technically call it. You know it’s a difficult challenging situation and there’s no question about it.”

Crist says the best thing Floridians can do in these tough times is to keep spending.