Rise in consumer confidence could sign housing market bottom
August, 27, 2008
The consumer confidence index rose in August, according a University of Florida survey, and the survey director says it's because the housing market has hit the bottom. Director Chris McCarty says prices in Florida are still dropping, but at a slower decline, and the median home price is beginning to level out. McCarty said July home prices will be the bottom. The median price in Palm Beach plunged to $291,300 in July, according to the Florida Association of Realtors.