Jacksonville Statistics as of March '07

Here's the statistics as of March 5, 2007

Housing Market Indicators:
Florida existing home sales: Improving
-27%
Florida existing condo sales: Improving
-30%
Florida existing home median price:
$239,300
Florida existing condo median price:
$209,000
Florida consumer confidence:
91
National existing home sales:
+3.0%
National existing home median price
$210,600
National (Freddie Mac) mortgage rate
6.18%

University of North Florida opens their Jacksonville statistical database to everyone.

The University of North Florida has been compiling data in the Jacksonville (Duval) county for the last 5 years. Paul Mason, chairman of UNF's economics and geography dept. said the information has been compiled by himself and eight UNF students.

Their information is available at leipjax.org and includes unemployment rates, stock prices, the consumer price index and leading economic indicators.

State lawmakers believe they found at least a temporary solution to Florida's tax woes, but executives with Chicago-based Fitch Ratings feel that it should be a competitive market - not the Legislature - that brings down rates.
"Fitch views Florida's proposed legislation as a mechanism to further suppress homeowner's insurance rates in a market where rates continue to be inadequate despite several large recent rate increases," the company said in a release. "Fitch believes the best long-term solution to the Florida homeowners market is for the state to allow competitive market forces to set rate levels and to continue to encourage risk mitigation efforts such as more stringent building code requirements."

Ratings of insurance companies should not be affected by the new legislation, Fitch said, as the bill will further subsidize the Florida Hurricane Catastrophe Fund as well as Citizens Property Insurance Corp. while expanding private insurers' access to below-market cost reinsurance from the catastrophe fund by increasing available coverage from $16 billion to $33 billion.
The legislation, if signed by Gov. Charlie Crist this week, could have a significant impact on reinsurers, however, as it will apply pressure on rates from reinsurance companies and "squeeze out" private market capacity.