Consumer confidence highest in a year
Florida’s economy continues to look up this spring with new reports out showing continued housing market recovery from Hurricane Irma, growth in good-paying clean energy jobs, and the best consumer confidence report in more than a year. And we just landed three of the top ten best places to live near the beach!
The University of Florida Survey Research Center’s latest Consumer Sentiment report leads the good news. The report’s February Index stands at 100.9, up 2.8 points from January. It’s the first score over 100 since last summer and the best score since January 2018.
The survey reflects a positive outlook on the entire nation and “importantly, these outlooks are shared by all Floridians regardless of their gender, age or socioeconomic status,” said Hector Sandoval, one of the UF program directors. Although confident, the survey found people still holding onto their money and putting off major purchases.
The number of Floridians behind in their mortgage payments because of the effects of 2017’s Hurricane Irma are now back to pre-storm levels. Nationwide’s latest Health of Housing Markets Report (HoHM Report) found that those Florida housing markets worst impacted by Irma have clear drops in mortgage delinquency rates even as the recovery continues. Markets from Tampa-St. Petersburg south saw significant reductions. For the rest of the country, the HoHM Report shows that house price appreciation is slowing, mostly in response to higher mortgage rates. It’s Leading Index of Healthy Housing Markets has a positive national outlook for the first time in a year.
One of Florida’s economic development goals has always been to attract more clean, higher-wage industries to help diversify from our traditional tourism and agricultural economy. A new report shows Florida now ranks third in the nation for the number of “Clean Energy” jobs. According to the advocacy group E2 (Environmental Entrepreneurs), 158,652 Floridians are employed in clean energy. (See Chart)
This sector includes solar, wind, energy efficiency enterprises, and clean vehicles and storage. Energy efficiency continues to lead the clean energy sector in total number of jobs, growing 3.4% nationally to 2.3 million jobs.
And finally, Florida has landed three of the top ten spots on a recent U.S. News & World Report The 20 Best Places to Live Near the Beach in the U.S. Melbourne came in at No. 1, Sarasota at No. 3, and Ft. Myers at No. 6. Rounding out the top five were San Diego (No. 2), Honolulu (No. 4) and Charleston, South Carolina (No. 5). Factors included the area’s job market, morning commute and access to quality health care.
LMA Newsletter of 4-1-19
