DIGGING FOR DATA GOLD IN HOME SALES
Economic analyst Hank Fishkind says data for the sales of existing homes are one of the most important and reliable indicators for the economy.
They’re reliable because they’re not subject to large revisions that often come later with other reports…jobs numbers, for instance.
And they’re particularly important for Florida, because when sales of existing homes are high this means more people have sold their homes and can move to Florida. Since the Sunshine State’s economic well-being depends fairly heavily on population growth, that’s a big deal.
Fishkind says the headlines from the latest March report are that existing home sales fell in the U.S., maintaining the slight downward trend over the past year, and are down by 5.4% from March 2018. Florida was a bit stronger with single-family home sales flat over the last year, while sales of condominiums and townhomes were down 6%.
But he tells 90.7’s Nicole Darden Creston that those numbers aren’t quite as dismal as they seem, and there are more surprises hidden in the existing home sales data for March.