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UF Survey: Long Road to Recovery

GAINESVILLE, FL-The latest results show real estate market recovery is tied to jobs.

By Carl Cronan | Updated on August 11, 2009

GAINESVILLE, FL-With Florida’s unemployment rate currently exceeding the 10% mark, it’s going to take some time for the state job market to rebound. The same can be said for real estate in the Sunshine State as well, according to a newly released University of Florida survey.

Investor confidence in the outlook for business and availability of money are reasons for cautious optimism, states the UF Bergstrom Center for Real Estate Studies. Although the state appears on the road to recovery, that road seems as long as stretch of interstate through Alligator Alley or the Panhandle.

“Even though most markets report they’ve seen the bottom, it’s going to be a long climb,” says Timothy Becker, director of the Bergstrom Center, which conducts quarterly surveys. “As long as we continue to lose jobs, the real estate market will be depressed.”

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