Orlando Housing Market 2016
Orlando Home prices going up!
Orlando Housing market shows a 9.47 % increase in home prices in 2015. This growth outperforms the stock market and surpasses traditional price gains.
Overall Home sales in 2015 were up by almost 16% over 2014.
Orlando Housing Market
Regular home sales were up 26% over 2014 sales. Foreclosure sales were up by almost 5 % while short sales went down by almost 40%.
A good sign that the Orlando Housing Market is recovering nicely.
Orlando Home inventory
An overall supply of Orlando Homes in the Orlando Housing Market decreased 8%.
Single-family home inventory declined by 7.68 percent and condo inventory decreased 9.42 percent, year to date.
Negotiating a good buy
As more homes are sold, the availability becomes tighter and home buyers have less choices. With more than 35,000 homes sold last year it leaves only about 10,000 homes left on the market.
There are still bargains!
More thoughts on the Orlando Housing Market:
- New construction homes and resale homes are almost on the same pricing level.
- Financing standards have increased, making it more difficult for first time home buyers.
- Interest rates are expected to stay low.
- Rental rates are going up.
- Buyers have to go to the outskirts of Orlando to find affordable housing.
- Forecasts call for Orlando Home prices to increase 8-10 %
- The state of Florida is expected to increase 5%
- Orlando home appreciation has outpaced the state.
- Short sales are starting to disappear.
- Lake county and Osceola county are seeing more starts for new construction.
- New turnpike and highway access have made travel to new areas easier.
Buyers have less choices this year, but that does not mean that you cannot find a great home to buy. Give us a call for a complimentary chat about the best home buying options. 407-539-1053