More Normal Sales and Fewer Foreclosures – Orlando Inventory Stocks
Continue Falling in June 2011
• The percentage of “normal” sales in the Orlando region has increased
for five consecutive months. In June, “normal” sales accounted for 39.8%
of all sales, while foreclosures made up 60.2%
• Compared to June 2010, bank-owned sales dropped 39.6% and short sales
decreased 14.2% while “normal” sales decreased by only 0.5%
• The median price for “normal” existing homes sold in June showed an
increase of 40% from June 2010
• The average home sold for 95% of its listing price
• The current pace of sales translates into 4.4 months of supply, the
lowest since December 2005
• The June 2011 inventory stock level continues to fall and is now 35.2%
lower than it was in June 2010
“Absorption of inventory is a key to price improvement, and this solid
gain implies that home values in many neighbourhoods are or will soon be
stabilizing as inventories get absorbed at a faster pace,” explains the
ORRA Chairman of the Board of Directors.
Posted: 13 July 2011
Source: Orlando Regional Realtors Association
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