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Revenue from hotel and vacation home rentals totaled $10.6 million in June, a 24 percent decrease from $13.9 million the year before, according to the Polk County Tax Collector's Office.

Mark Jackson, director of Polk tourism and sports marketing, has attributed much of the decline to vacationers and business travelers cutting their budgets in response to the recession.

In the housing market, existing home sales saw another gain in June, though distressed properties continued to dominate the market.

A total 343 existing homes were sold during the month, up 14.3 percent from 300 the year before, according to My Florida Regional Multiple Listing Service.

Polk's median sale price was $120,000 in June, down 21 percent from $151,100 the year prior, the Florida Association of Realtors reported. More than half of June's sales were attributed to distressed properties, according to a report by Tampa-based Home Encounter.

"I think we're in this for at least another year, simply because the banks have been dragging their feet, and they're holding back inventory (of foreclosed homes) that's yet to be put on the market," said Chris McLaughlin, owner of the local Keller Williams Realty franchise, in a recent interview.

As for new home construction, a total 121 permits for new single-family homes were recorded in June, falling 44 percent from a year ago. But it was still the best monthly sum of 2009, according to local city and county building departments.

In the job market, unemployment hit 11.5 percent in June, the area's highest figure in 16 years, according to the Florida Agency for Workforce Innovation.

June's rate was up from 6.4 percent the year before and 10.9 percent in May. The county had nearly 10,000 fewer jobs than it did in June 2008.

Finally, Polk's taxable retail sales came to $518.7 million in April, the most recent month available from the Florida Department of Revenue.

April's figure was down from $601.9 million the year before.

Source: theledger