Northwest Florida Employment
by Michael Scheibe, MBA
The unemployment rate for the Northwest Florida region in the first quarter of 2008 was 0.7 percent higher than it was in the first quarter of 2007. The unemployment rate identifies the percentage of people in the labor force that are seeking a job but do not have one. The labor force is the sum of those employed and unemployed, but it does not include the jobless who are not seeking employment such as full-time students and retirees.   More »

First Quarter Bed Tax Numbers Show Growth
by Melissa Neal, MA
During first quarter 2008, Northwest Florida saw a 10.4% increase in bed tax collections over the same time period in 2007. Overall collections for the Northwest Florida region (at a 2% rate) were $2.9 million from January 2008-March 2008. Again this quarter, the forecast shows bed taxes continuing to increase over previous years.  More »

Northwest Florida Retail Sales
by Michael Scheibe, MBA
The Northwest Florida region’s retail sales totaled nearly $4.4 billion in the fourth quarter of 2007, down 4.6 percent from the previous year. According to the Census Bureau, the retail sales figures for the nation increased 5 percent over the same period. The retail sales in the region are measured according to data on taxable retail sales that is collected and distributed by the Florida Department of Revenue.  
                                                   More »

Housing Affordability
by Anita Remesch, BS
In the first quarter of 2008, housing affordability increased due to a decline in mortgage interest rates and an increase in median incomes. The largest increase was felt in the Pensacola MSA (Metropolitan Statistical Area) with a 10.5 percent increase in housing affordability. The Panama City and Fort Walton Beach MSA’s affordability increased 7.9 percent and 4.4 percent respectively. On the national level, housing affordability increased 13.4 percent. Since the first quarter of 2007 housing affordability has increased 14.6 percent in Pensacola MSA, 13.2 percent in Fort Walton Beach MSA and 10.9 percent in Panama City MSA.  More »

Northwest Florida Real Estate Activity
by David Kane, BS
The first quarter of 2008 began the year with a whimper rather than a bang for real estate activity in NW Florida. For the five-county region total home sales were down by an average of over 28 percent compared to the first quarter of 2007. Again however, the downturn in NW Florida was not quite as severe as the rest of the state over all. Based on the Florida Association of Realtors survey of MLS sales data within the twenty Metropolitan Statistical Areas (MSA’s) that comprise the state, sales of existing single-family homes were down by 26 percent compared to last year. But for the three MSA’s that comprise the NW Florida region alone sales of existing single-family homes declined by a slightly less painful 22.3 percent. During the same time frame the median sales price of an existing single-family home declined by 15 percent for the state, compared to a decline of 4.7 percent in NW Florida. While hardly cause for celebration, the real estate picture remains a bit brighter here than many other parts of the state.   More »