Orlando’s Upbeat Housing Trend

Orlando Florida Real Estate

Recent developments in the Orlando housing market show a very healthy trend.

Between October 2014 and October 2015, median home prices in Orlando increased 12.4%, marking the 51st month of consecutive year-over-year home price increases.

This upward trend in home prices shows that buyer demand in the city is as strong as ever.

Healthy housing demand

Other statistics cement Orlando’s stature as one of the country’s real estate growth markets:

• Sales of single-family homes in September 2015 are up 13.4% over sales in September 2014
• Sales of condos and townhouses in September 2015 are up 8.4% over sales in September 2014
• New home starts were up 18% in the 2nd quarter of 2015 compared to the same period last year
• Housing inventory in the 2nd quarter of 2015 was up 17.3% compared to the same period last year

These figures demonstrate that the increase in inventory has not led to a decrease in median home prices, further pointing to a healthy housing demand.

Growth factors

Orlando’s employment growth rate, which is higher than the state’s and the country’s, is seen to be the foremost driver of the housing market growth.

Additionally, the average interest rate of 3.86% in October 2015 was lower compared to the average interest rate of 4.05% in October 2014.

Home-buying options

Resale prices – or the prices of existing homes put up for sale – are rising at a faster rate than new home prices. If you’re in the market for a new home, here are a few things to keep in mind:

1. A good option may be to look at recent developments. Given the highly dynamic nature of the Orlando housing market, it is best to work with an experienced real estate professional who knows the area intimately.
2. Don’t miss out on opportunities to find and own your dream home by going it alone. Work with a seasoned real estate agent who will guide you through every step of the intricate home buying process in a fast-paced market.