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The Orlando Housing Market

The Orlando Housing Market. Steven L. Merchant, GRI Global Realty International 2013 ORRA Chairman of the Board . Orlando YTD Home Sales. Orlando YTD home sales more than doubled since the low of 2008. Orlando Annual Home Sales. Orlando Median Price (July 2005-2013).

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The Orlando Housing Market

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  1. The OrlandoHousing Market

    Steven L. Merchant, GRIGlobal Realty International2013 ORRA Chairman of the Board
  2. Orlando YTD Home Sales Orlando YTD home sales more than doubled since the low of 2008 Orlando Annual Home Sales
  3. Orlando Median Price (July 2005-2013) Orlando’s July 2013 median price increased by 44 percent since July 2010 Orlando Median Price (July 2005-2013)
  4. Orlando Home Sales by Price Range Almost 40 percent of homes sold in July were priced $100,000 to $199,999 Orlando Home Sales by Price Range
  5. Orlando Home Sales by Financing 53 percent of homes sold YTD in 2013 were all cash Orlando Home Sales by Price Range
  6. Orlando Inventory – July 2013 Orlando inventory decreased 69 percent since July 2008 Orlando Home Inventory
  7. Orlando Months of Inventory 5-7 months is generally considered a “balanced market” Orlando Months of Inventory
  8. Orlando Average Days on Market Homes are going under contract in approximately 2 months Orlando Days on Market
  9. Orlando Pending Home Sales Pending home sales have more than tripled since July 2007 Orlando Pending Home Sales
  10. Average Interest Rate Interest rates have returned to levels seen in 2011 but remain low Average Interest Rate
  11. Orlando Home Sales by Type Normal sales made up almost two-thirds of all home sales in July 2013 Normal Sales: 65.41% Short Sales: 17.28% July 2012: 48.37% July 2012: 28.21% Foreclosures: 17.31% July2012: 23.41%
  12. Orlando Median Price by Sales Type Sales of all types have seen median price increases Orlando Median Price by Sales Type
  13. YTD County Snapshot: Orange Sales in 2013 (YTD) All zip code reports available at www.orlandorealtors.org.
  14. YTD County Snapshot: Seminole Sales in 2013 (YTD) All zip code reports available at www.orlandorealtors.org.
  15. YTD County Snapshot: Osceola Sales in 2013 (YTD) All zip code reports available at www.orlandorealtors.org.
  16. YTD County Snapshot: Lake Sales in 2013 (YTD) All zip code reports available at www.orlandorealtors.org.
  17. Issues Affecting the Real Estate Market Rising mortgage interest rates Mortgage rates are low, but down payment requirements required and the credit worthiness of the borrower can make it difficult to secure a loan. Great rates are only available to those with a good credit and a substantial down payment. A real crunch may come if rates rise and credit standards also remain high.
  18. Issues Affecting the Real Estate Market Competition from all cash buyers YTD - 53.22% of sales have been all cash. Often fueled by international investors and retirees flooded with cash after selling their homes elsewhere. First-time homebuyers often get squeezed out to the market.
  19. Issues Affecting the Real Estate Market Low inventory of homes for sale Banks have slowed down foreclosures and investors have bought many homes to rent them out. New construction remains slow. In June, housing starts unexpectedly fell to the lowest level in almost a year. Sellers are entering the market, but many area holding off because they’re underwater or awaiting price gains.
  20. Top Issues Affecting the Real Estate Market Millennials aren’t forming households at the usual rate In 2012, 39 percent of Millennials were in college. Many graduate with student debt. (Home ownership fell twice as fast from 2008 to 2012 among 30 year-olds with student debt as it did for loan-free 30-yearolds.) Nearly 54 percent of people under 25 were unemployed or underemployed in 2012. Wages for college grads are also down, and their credit score is roughly 620.
  21. More info at www.orlandorealtors.org Contact ORRA at orra@orlandorealtors.org
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