Builder confidence ↑3 points from Early-Q2 to 37 in Mid-Q2, topping forecast 34, while still below the 50 favorable threshold for new homes. Current sales ↑3 points to 40; expected sales over next 6 mo ↑3 to 45; prospective buyer traffic ↑3 to 25 nationally. Regional Builder Confidence Northeast: ↑5 to 44 Midwest: ↑6 to 45 South: ↑2 to 36 West:...
In South Florida, year-over-year market indicators show a decrease in interest rates from 7.29% to 6.84%. Pending home sales increased slightly from 73.9 to 75.8, while builder confidence rose from 34 to 46. Unemployment nationally rose from 3.8% to 4.1%. Locally, unemployment in Miami, Fort Lauderdale, and West Palm Beach jumped from 2.6% to 9%. Housing starts decreased in major areas, and existing-home...
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