Consumer Confidence Rising

For second month in a row, consumer confidence index rose to 106.5 in July from 105.4 in June. It is a economic sign of higher incomes and more jobs increase consumer confidence, despite slowing home sales. In Florida home sales fell 29% after pressures of rising mortgage rates, inventory levels and increase insurance premiums. Approximately 18,000 Florida homes have been sold compared to 25,000 one year ago. All 20 Florida metro cities have seen a decrease, and Jacksonville has only seen the lowest at 3% drop. Orlando Real Estate sales are down 21%, but median price of a home up 10% to 266,300 from last year. Courtesy of Orlando Sentinel 7/26/06.