From the shores of Franklin County to the Atlantic coast of Florida, real estate is the market that drives a major part of our local economy. So when a company such as Saint Joe finds its stock dropping by forty percent, it's time to take notice.
Saint Joe’s stock prices fell from 85 dollars a share in July to just 51 dollars a share yesterday. Local realtors say it's no secret. The real estate is starting to level off.
High end coastal property is being hit first, while homes in local cities are still in high demand.
Hagan says as long as folks are in real estate for the long term, they won't see a huge dropout.
At last report Saint Joe offered a per share income of five cents compared with 20 cents per share last year.