The difficult economy seems like the new normal after so many years of booming real estate and job growth in the Sunshine State.
It seemed like overnight that Florida turned into a leader in foreclosures. Many homeowners, burdened with expensive houses and equity loans, were suddenly "underwater."
Although the good times are not back, the real estate industry is reporting some important gains. According to the Realty Times:
- "In December 2012, 3,387 homes were sold in the Tampa Bay area with a median price of $126,000. This compares with 3,216 homes sold during the same period last year, which translates into a 5% increase in the number of homes closed and a 15% increase in the median price (from $110,000 to $126,000).
- "At the end of the month there were 13,884 homes for sale in the area; 24% of the available homes sold in the last month - this translates into an inventory of 4 months."
In addition, unemployment is at its lowest point in eight years, according to state numbers for November.
Patch wants to know what you think. Is the bust over? Is Florida out of the woods yet?
At the start of 2013, are you feeling secure in your job and optimistic for the future? Let us know in the comments below.