Florida’s consumer sentiment improves in June, according to UF survey
In June, consumer optimism among Floridians improved by 1.6 points, based off of five different components in a survey by the University of Florida. This survey was conducted from June 1-22, and reflects the responses of 413 individuals who were reached on cell phones, across a wide demographic selection in Florida.
Expectations about personal finance in the next year, expectations of the US economy in the next five years, and perceptions on whether now is a good time to buy a big ticket item, like a new home or car, were all categories that improved in June.
“The overall gains in the Florida index in June were among older and low-income households,” says Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research. “These two demographic groups showed particular strength in their expectations about personal finances a year from now and were the only groups with higher scores than last month regarding their current finances being better than a year ago.
While McCarty asserts that lower income households was a group to show strong improvements in their consumer sentiments, economic changes amongst households earning $50,000 or more also remain positive, despite weaker results in the survey from this group.
Florida’s labor force participation rate is also improving, and 285,000 jobs were added in Florida in June. These, amongst other economic improvements, have also led to a strong month in the real estate business. The median price for a single family home is higher than both what it was a year ago, and a month earlier.
Join the other residents of Florida who are thinking positively for what both their own, and the state’s, finances have to bring. A time like this when economic optimism is abundant is just calling for you to purchase the perfect piece of real estate in Miami you have been dreaming about. Check out all that RE/MAX Paradise has to offer and consider contacting an agent for more information today!