By Paul Davidson Despite high job openings, 4.5M workers (3%) quit their jobs in Nov. Analysts predict worker shortages likely will continue, but ease in 2022. McLEAN, Va. – Americans quit jobs at a record pace in November as job openings hovered close to their all-time highs in a sign that workers continued to hold most of the leverage before the omicron variant sent COVID-19 cases soaring. The number of workers quitting jobs vaulted to 4.5 million from 4.2 million, above the prior record of 4.4 million reached in September, the Labor Department said Tuesday. That means 3% of workers voluntarily left
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By Paul Davidson Many economists say the economy exploded in 2021 as the nation emerged from lockdowns, and 2022 will be more of the same – but at a less hectic pace. NEW YORK – After hunkering down at the start of the COVID-19 pandemic, Darris Johnson splurged last year after he and his wife were fully vaccinated: They shelled out about $150 for a weekly dinner at a nice restaurant and several thousand dollars on new bicycles and accessories. What will 2022 bring? “We certainly have to rein it in” says Johnson, 42, a biotechnology salesman who lives in
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By Kerry Smith UF’s monthly sentiment index ticked up 2.6 points in Dec. Current attitudes were mixed, but people showed increased optimism about the economy later this year. GAINESVILLE, Fla. – After four months of consecutive declines, consumer sentiment among Floridians rose to 72.2 in December, up 2.6 points from November’s revised figure of 69.6. That increase was also reflected in a study of national consumers. “Though consumer sentiment among Floridians ended 2021 on a positive note, the continuing declines experienced during the second half of the year have left a 10-point gap between this month’s figure and December of
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By Ron Hurtibise Every Fla. property insurance company calculates “replacement cost” differently, but almost all will charge more next year – in addition to other standard increases. FORT LAUDERDALE, Fla. – Embattled by years of property insurance rate increases, Florida homeowners are about to get hit by a double whammy: Your insurance costs will likely rise even higher than you expected next year as companies increase the replacement value, or the estimated cost of replacing a damaged home, to reflect the skyrocketing costs of construction materials and labor. And those higher values will be multiplied by higher rates approved by
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By Amber Randall The current market favors sellers, but owners see slowing price increases and buyers being priced out of the market. Many who held off may decide it’s time to sell. FORT LAUDERDALE, Fla. – Some possible good news for buyers – more inventory could be headed to the South Florida market in the coming months, as sellers become more willing to list their homes. A survey of 1,300 consumers by realtor.com, conducted in fall of 2021, revealed that 65% of homeowners across the country planned on selling their home within the next six months, while 26% of homeowners
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By Kerry Smith Inflation is weighing on buyer decisions, according to a study. While 24% now plan to move faster, 1 in 10 have canceled plans and 29% have decided to delay. SEATTLE –  Three out of four (73%) of homebuyers and sellers say inflation is influencing their future plans, according to a study commissioned by Redfin. Of Americans planning to buy a home in the next 12 months, 29% of respondents said they’re delaying homebuying plans due to inflation. Twenty-four percent of respondents are moving up their homebuying plans and 11% are canceling plans altogether. Meanwhile, 10% of sellers
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By Kerry Smith The drop reverses an increase in Oct. NAR Economist Yun attributes it to a tight inventory supply and buyer hesitation over rising home prices. WASHINGTON – Pending home sales slipped in November (down 2.2%), receding slightly after a previous month of gains, according to the National Association of Realtors® (NAR). Each of the four major U.S. regions included in the monthly study saw a month-to-month decline. The drop was similar (down 2.7%) year-over-year. The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – fell to 122.4 in November. An
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