Florida Home Sales
State economists are predicting more revenue losses for the current budget year.
While Florida is now number one in job losses, the housing market is doing better than predicted.
Real estate agent Penny Herman's optimism is starting to pay off. Herman says home prices in Florida are stabilizing. Sales for April through June out paced the first three months of 2008 by almost 40 percent.
"The world was lying low the first quarter then April, May, June, July hit and it's just been great," said Herman. "People are realizing now is the time to buy."
Despite the spike in sales for the 2nd quarter, homes sales are down six percent when compared to the same time last year.
Economists meet at the Capitol Friday to find out how much a drop in consumer spending will affect state revenues.
Since he lost his job as a cook four months ago, Adam Sears is spending less.
"They couldn't afford to keep as many employees anymore," said Sears. "They had too many employees. They even had to stop opening for a day."
Sears spent the day job searching. He's not alone. Nearly a 100,000 Floridians lost their jobs last year and until they find jobs state revenues will keep falling.
Existing home sales fell 19 percent in Gainesville in the second quarter and 29 percent in Ocala.
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