HousingTracker.net | Median Home Asking Price & Inventory Data for Orlando, Florida
Interesting trends in the Orlando market. We've been burning through a large amount of inventory but have seen the first month over month increase in inventory since 2006, which at this time is an anomaly. It appears that along with the tax credit and incredible pricing in the real estate market that we are getting closer and closer to a completely healthy market.
Some of the recent sales will baffle those who haven't looked in a while. So does this mean that it is time to buy? Easy answer yes and hurry! Multiple factors make it a smart time to buy:
1. Low interest rates - We have been hovering near 5% to 5.25% for some time now.
2. Lowest prices - Due to many market factors including but not limited to high unemployment, foreclosures, short sales and excess inventory have pushed prices into an area not seen since 2003, basically the whole bubble.
3. Minimal Competition - With less buyers it allows the buyers to set the stage to get exactly what they want. This does not apply to all Real Estate, multiple contracts on a hot property still exist.
4. Government Spending - Our government is still giving you $8000 to move into a new home... thank you may I have another!
5. Inflation around the corner - With the government spending many experts believe that we are going to head into a heavy amount of inflation in the future. This happening is actually a good thing for anybody with Real Estate holdings. If inflation sets in your property value will increase proportional, this is due to the dollar not being able to buy as much yesterday as today. The same reason our folks had told us they used to get all the groceries for $1 and have change left over. They were buying nice homes in the 70's for $12k.
If you ever have questions about Real Estate in the greater Orlando Area or if you are ready to buy or sell a home. I can be reached at (407) 374-3493 or tewasko@watsonrealtycorp.com
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