Great news! Florida consumer sentiment is up, according to the most recent University of Florida consumer survey. This news is especially great following three months of decline.
Perception of personal finance situation increased three points compared to 2015, from 83.5 to 86.5. Opinions as to whether now is a good time to buy a big-ticket item like an appliance or car rose by 7.4 points, from 96.5 to 103.9, wrote Florida Realtors.
“The upturn in these two components suggests that Floridians’ opinions about current economic conditions have improved considerably despite the uncertainty experienced recently due to the U.S. presidential campaigns and Britain’s decision to leave the European Union,” says Hector H. Sandoval, director of the economic analysis program at UF’s Bureau of Economic and Business Research (BEBR).
“The optimistic short-run expectations about the U.S. economy combined with the favorable local economic climate will likely have a positive effect on the Florida economy and consumer sentiment in the following months, although some fluctuations are expected as a consequence of the uncertainty that typically arises from the presidential campaigns,” says Sandoval.
Florida continues to add jobs. This impacts consumer sentiment in a positive way. 244,500 were added in June. Low interest rates, strong housing prices and high stock prices in Florida also boost consumer morale. Overall, things are looking good in Florida and the US.
“From the viewpoint of many Florida consumers, the economy is looking up. There are still concerns at the national level by persistently low inflation, tepid growth in GDP, low labor force participation and low productivity. However, the U.S. economy is in far better shape than most countries and is therefore seen as a safe location for investment,” said UF’s Bureau of Economic and Business Research Director Christopher McCarty.
With Florida consumer sentiment up, it seems to be a general consensus that now is a good time to buy a home! Check out the beautiful properties available through RE/MAX Paradise in Miami today!