Florida metros are hot! According to NAR’s commercial metro market reports for 390 markets, Florida has five of the top ten markets with the strongest overall conditions in the apartment, office, industrial, retail, and hotel markets, according to NAR’s Commercial Market Conditions Index ranking.
The jobs recovery in August was light with only 235,000 more jobs. From the cyclical low point during the total lockdown in April 2020, 17 million jobs have been recovered. Still, another 5 million is needed to just reach back to the prior peak right before the pandemic. The latest unemployment rate was 5.2% with wages rising by 4.8% over the year.
Mortgage rates continued to remain below 2.9% for the last eight straight weeks. Specifically, according to the finance mortgage provider Freddie Mac, the 30-year fixed mortgage rate was unchanged from the previous week at 2.87%.