Home sales in Orlando are slowing, OrlandoSentinel.com reports.
The November real estate report from the Orlando Regional Realtor Association released Monday shows home sales are down and the supply of houses on the market is up as interest raise continue to increase.
Home sales fell 6.9 percent to during the month to 2,575 while the number of homes for sale grew to a 3.3-month supply, the biggest inventory since September 2017.
Real estate agents and analysts say increasing interest rates are giving buyers pause. The average interest rate for area home buyers in November increased to 4.97 percent, up from 3.97 percent during the same month last year.