In sign of real-estate slowdown, Orlando home sales are down and listings are up

Real estate agents and analysts say increasing interest rates are giving buyers pause. The average interest rate for area homebuyers in November increased to 4.97 percent, up from 3.97 percent during the same month last year.

"There has been a shock in how quickly interest rates have gone up," said Eric Soto, a real estate agent and co-owner of TC Orlando Homes based in Altamonte Springs.

It mirrors trends nationally, where both sales and price growth is slowing, according to the U.S. Census Bureau. The number of U.S. homes sold in October dropped 8.9 percent compared with a year ago, the agency's most recent report said.