News for UK buyers of Orlando property

Slowly, the pace of home resales is picking up

Orlando's resale-home market showed a few more signs of improvement last month, though even the local Realtors group described the pace of change as glacial.

Unsold inventory fell and the number of pending contracts rose in April, both for a second month in a row. The number of homes sold in the Orlando Regional Realtor Association's core market, primarily Orange and Seminole counties, rose for a third straight month. And the year-over-year percentage drop in the Realtors' monthly existing-home sales shrank for a fourth consecutive month.

All are indicators, the trade group said, "of a continued, although admittedly glacially paced, shift toward a market coming into balance between buyers and sellers."

Posted: 13 May 2008
Source: Orlando Sentinel

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