HOME BUYERS – Recognizing that the current market favors buyers, 77 percent of respondents in a MarketTools survey said that the time is right to buy a home – a 20 percent increase compared to a similar January survey.
HOMEOWNERS INSURANCE – The Florida Senate’s Banking and Insurance Committee considered property insurance bills yesterday. It gave its stamp of approval to a bill that would reduce the Hurricane Catastrophic Fund (CAT Fund) but possibly raise premiums up to 3 percent. And it voted to freeze Citizens Property Insurance rates through 2010.
FLORIDA CONSUMER CONFIDENCE – Florida’s consumer confidence fell five points to 68 in March. However, Chris McCarty, director of University of Florida’s Survey Research Center, believes that home prices have just about bottomed out in parts of Florida – and that passage of the property tax amendment in January empowers Floridians with home equity to move within the state, calling it "a reasonable time for Floridians waiting to buy a house to enter the market."
NEW HOME SALES – The Commerce Department reported Wednesday that new home sales dropped 1.8 percent last month to a seasonally adjusted annual rate of 590,000 units.