News for UK buyers of Orlando property
"Orlando’s housing market appears to be following a recognized healing
pattern — from the bottom up — as evidenced by the greater number of sales
in the lower-price categories," explains ORRA President Les Simmonds. "And,
we expect the ratio of sales of lower-priced homes to increase exponentially
as more and more first-time homebuyers seek to take advantage of the $8,000
federal tax credit."
Sales activity in the lower-price categories gradually stimulates sales in
other categories as sellers who want to become trade-up buyers are able to
sell their current homes.
Forward-looking factors also indicate an improving market: REALTORS® filed
3,412 new contracts in the month of April, nearly double than the number of
contracts that were filed in April 2008, and are awaiting the closing of a
record 5,818 pending sales.
The 1,741 completed closings in April is a 41 percent increase compared to
April 2008. Year to date, there have been 42 percent more sales than
by this time last year (5,867 to 4,115).
Posted: 11 May 2009
Source: Orlando Regional Realtors Association
Click
here for complete article