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Orlando is Top US City Property Market

Orlando’s real estate market is the top-performer in the United States.

FOR IMMEDIATE RELEASE

Orlando’s real estate market is the top-performer in the United States.

Over the year to February 2016, Orlando’s property market value grew 19.88%, more than any other metro, according to the latest Multi-Indicator Market Index (MiMi), from Freddie Mac.

The news comes week after HomeVestors and Local Market Monitor named Orlando in its Best Markets Top Ten List for Real Estate Investing for Quarter 1, 2016.
Freddie Mac Deputy Chief Economist Len Kiefer says the national real estate sector is surging ahead with the MiMi measure at an eight-year high.

“The US housing market is poised to have its best year in a decade. The National MiMi currently stands at 83, the highest since September of 2008. And the trends are nearly all positive.

“Home purchase applications are headed higher, with the National MiMi purchase applications indicator increasing nearly 12 per cent from one year ago.”
Garrett Kenny, Chief Executive Officer of well-known Central Florida developer and agent, Feltrim Group, says, “Orlando’s thriving property market is certainly a hotspot, with demand not just from US buyers but investors from around the world.

“Buyers from China, the UK and South America have led inquiries for Feltrim Group’s luxury lakeside development, Balmoral at Waters Edge, south of Disney, and the strength of Orlando’s property market and record visitor numbers will only serve to increase interest.”

Balmoral at Waters Edge has attracted attention for its bespoke Tuscan-design homes and resort-style leisure facilities, including an impressive pool with luxury clubhouse, mini waterpark, lakeside beach, gym and spa, gourmet kitchen, restaurant and more.

Robust employment growth has helped drive the National MiMi employment indicator above its historic benchmark, and stands at 106.5, up nearly 6 per cent from a year ago.

Lower interest rates are helping to support homebuyer affordability across the country, for the moment outweighing the impact of higher house prices.

Florida recorded the second highest state rise in the national MiMi index over the last year at 15.33%.

MiMi monitors and measures the stability of the nation’s housing market, as well as the housing markets of all 50 states, the District of Columbia, and the top 100 metro markets.

It combines proprietary Freddie Mac data with current local market data to assess where each single-family housing market is relative to its own long-term stable range.