December Economic Indicators for Southwest Florida

David A. Holmes, Attorney
David’s practice focuses on asset protection, corporate and business law, civil litigation with an emphasis in contract, commercial and construction disputes, and real estate.

Florida Gulf Coast University has released its latest review of regional economic indicators.  Some of the highlights follow.  The trend of slow, but discernable, improvement we have been seeing is confirmed by this report.

• Airport Activity.  Traffic for the three regional airports totaled 785,070, representing an increase of 9 percent from November 2009 and a 22 percent rise over October 2010.  Southwest Florida International Airport passenger activity rose to 652,783 in November 2010, an increase of 9 percent from November 2009 and 23 percent over October 2010.
• Home Sales. December 2010 Realtor sales of existing single-family homes in Lee, Collier, and Charlotte Counties all rose substantially from the previous month. Charlotte County’s existing single-family home sales rose from 215 in November 2010 to 264 in December, with a median price decrease from $92,500 to $88,400. Compared to December 2009, Realtor sales declined by 11 percent in Lee County, 10 percent in Collier, and 7 percent in Charlotte County.
• Unemployment.  Unemployment remains historically high, December unemployment rates for the southwest Florida region declined by at least 0.9 percent from the previous month.  Charlotte County’s unemployment rate dropped from 12.8 percent in December 2009 and 12.9 percent in November 2010 to 12.0 percent in December 2010.
• Taxable Sales.  Charlotte County reported taxable sales of $142.7 million in October 2010, a 5-percent increase over the October 2009 figure.
• Building Permits.  Charlotte County single family residential building permits declined to 24 in December 2010 from 26 in December 2009 and there was no change from the prior month.

The full report can be viewed at the following link: FGCU