Orlando home sales continue to rise as housing affordability hits record high
Orlando area home sales have again experienced an increase in activity, with members of the Orlando Regional REALTOR® Association involved in the sale of 47.59 percent more homes in March of this year than March of last year: 1,653 to 1,120.
In addition, Orlando REALTORS® filed 76.06 percent more contracts in the
month of March (2,956) than in March 2008 (1,679). Overall, pending sales —
considered by housing economists to be a reliable indicator of future sales
— continued its upward trend in March to 4,906. There were more than twice
as many homes under contract in March 2009 than compared to March 2009
(2,398).
"Orlando homebuyers are getting back into the market and taking advantage of
the improved affordability," says ORRA President Les Simmonds. "Lower
prices, record low interest rates, and a vast selection of homes give
homebuyers increased buying power, making it an excellent time to buy a
home."
Posted: 13 April 2009
Source: Orlando Regional Realtor Association
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