First, let's start some with good news. Florida's economy is slowly making its way back up after tumbling dramatically nearly a year ago, at least if recent reports from major lending institutions are to be believed. The bad news is that this slow recovery will continue to affect the unemployment rate for some time. Now that those two things are out of the way, how are Miami Beach homes doing?
While we can't speak for Miami Beach homes specifically, the housing market in Florida is still seeing prices come down even as recent reports mention a rise in home sales. However on a positive note, many market analysts have said there are strong signs that the housing bottom has been or will soon be reached so prices may actually start to increase sooner than anticipated.
On that note, consumer confidence actually increased by more than seventy points this month, that's actually the highest it's ever been since October of 2007. If consumer confidence continues to improve then the odds are good that so will sales of Miami Beach homes.
Florida is on an uphill climb but things are looking up, at least for the most part.