Consumer confidence hits 5 year high

University of Florida survey: Fla. consumer confidence hits five-year high

Florida’s September consumer confidence reached a post-recession high of 79 – up three points from a revised August reading of 76. The last time Florida consumer confidence hit 79 was in October 2007. The September survey showed increases in all five components that researchers use to assess the collective economic opinion of Floridians.

In September, the component measuring whether respondents’ think they’re better off economically today compared to a year ago rose one point to 62. In addition, the component that measures economic expectations one year from now rose one point to 86, while the component measuring expectations that personal finances will improve a year from now rose one point to 86.
Florida Realtors Industry Data & Analysis: Shadow inventory less threatening

The problem of shadow inventory – homes not yet in the for-sale inventory but at some stage of foreclosure with a likely chance to enter the market –seems less of a threat as time passes. Chief Economist John Tuccillo expects the shadow inventory to continue its decline.

Nationally, JPMorgan Chase released a report saying the U.S. shadow inventory declined by 1.2 million in the first half of 2012. Chase expects the trend to continue and suggests that the same number will exit shadow inventory before the end of the year, taking the complete national shadow inventory down to about 4 million – a reduction of one-third compared to the 6 million in 2010.