Housing Scorecard: Inventory jumps as sales slide

Nationally, interest rates decreased from 7.31% to 6.08%, while pending home sales fell from 72.8 to 70.6. Builder confidence dropped from 45 to 41, and unemployment rose from 3.8% to 4.2%. Locally, unemployment rates varied, with Miami, Fort Lauderdale, and West Palm Beach at 3.4%, and Naples at 3.7%. Housing starts increased in Miami, while existing-home sales declined in several areas. Housing inventory rose significantly across all regions, and days on market increased for most locations.