Property values in Florida declined $153 billion last year, or 6 percent, state economists reported Wednesday. But they expect the state's economic picture to start improving in 2009.
Read the full story: http://www.floridarealtors.org/NewsAndEvents/n3-080708.cfm.
For a second straight meeting, the Federal Reserve has decided to remain on the sidelines and leave interest rates unchanged. In the opinion of many economists, that stance may prevail not only for the rest of this year but well into 2009.
Read the full story: http://www.floridarealtors.org/NewsAndEvents/n4-080708.cfm.
NAR's Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 5.3 percent to stand at 89.0 from May. "The rise in pending home sales was broad-based with all four regions showing gains," says NAR Chief Economist Lawrence Yun. Further improvement is predicted for the months ahead, and the report notes an upswing in Fort Myers.
Read the full story: http://www.floridarealtors.org/NewsAndEvents/n2-080708.cfm.