Orlando Homes sales rise as affordability improves
Orlando’s housing marketing for the fourth month experienced a
month-over-month increase in the number of home sales as buyers responded to
improved affordability, according to statistics released by the Orlando
Regional Realtor® Association.
"Lower interest rates and more affordable prices are attracting buyers who
have been sitting on the fence about the decision to buy," said ORRA
President Les Simmonds.
For the past nine months, the number of homes under contract has increased
month-over-month, with 109.42 percent more homes under contract in December
2008 than compared to December 2007 (1,559).
Inventory decreased by 1,884 homes from November, which means that 1,884
more homes left the market (either through sales or expired listings) than
entered the market. Compared to last year, the December 2008 inventory level
is 7.30 percent lower than it was in December 2007.
Sales of existing homes in Lake, Orange, Osceola, and Seminole counties in
December were up by 27.56 percent when compared to December of last year.
1,643 homes were sold in December 2008 compared with 1,288 in December 2007.
Posted: 12 January 2009
Source: Orlando Regional Realtor® Association.
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