Mixed bag reflected in economic indicators

U.S. home prices rose more slowly in September than in August suggesting weaker sales are taking pressure off lower inventories. In Tampa, home prices rose in September by +.02% from August but this was still +14.5% over the year. Consumer confidence fell in November to the lowest level in 7 months. Consumer confidence dropped to 70.4 in November, down from 72.4 in October. There was a positive signal for the economy as Florida unemployment few to 6.7% ( below the national average of 7.3% ) and apartment building permits achieved their fastest pace in 5 years. This suggests that housing will make a stronger contribution to economic growth in the 4th quarter than was originally anticipated. Plans for construction in the South drove these figures.