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1992 HOME SALES AND STARTS UP AS FLORIDA'S ECONOMY IMPROVES

 ORLANDO, Fla., March 19 /PRNewswire/ -- Florida's 1992 single-family existing home sales rose nine percent over 1991 sales according to year- end figures compiled by the Florida Association of Realtors (FAR). All Metropolitan Statistical Areas (MSAs) showed annual increases except for the Hurricane Andrew effected Miami-Hialeah MSA. FAR President Dale G. Jundt noted that Ocala, Tallahassee and Jacksonville MSAs recorded the most impressive gains.
 Looking ahead, the National Association of Realtors predicts that mortgage rates will continue to decline, due to the Clinton administration's focus on lowering the national deficit and introducing long-range, economic growth measures.
 The 1992 fourth quarter was a turning point for many state economic indicators, setting the stage for an optimistic 1993. The Florida Consumer Confidence Index has risen steadily since October and in December reached its highest level since April 1990, according to the Bureau of Economics and Business Research.
 In addition, non-agricultural employment continued to outpace year- ago levels through the fourth quarter as Florida's total labor force grew to 6,575,000 in December, according to the Department of Labor and Employment Security. At the same time, the unemployment rate fell to 6.8 percent, its lowest level since January 1991.
 Another Florida economic indicator showing improvement is seasonally adjusted taxable sales which rose 15 percent in November 1992 from the year before.
 Jundt commented that "these factors plus the fact that we're now seeing the lowest interest rates in 20 years support our belief that the Florida economy is on the road to recovery."
 -0- 3/19/93
 /CONTACT: Jeff Zipper, vice president of communications & marketing of the Florida Association of Realtors, 407-438-1400, ext. 2314/


CO: Florida Association of Realtors ST: Florida IN: SU: ECO

AW-JB -- FL007 -- 7942 03/19/93 14:02 EST
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Date:Mar 19, 1993
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