Orlando Home Sales Increase 3 Percent As Median Price Continues Upward

Orlando Home Sales Increase 3 Percent As Median Price Continues Upward

Housing inventory in Orlando has declined year-over-year for 15 straight months, which is driving values upward and causing prospective buyers to either waver at the steeper home prices or become disheartened by the competition for the low number of available affordable listings.

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Fla.'s Housing Market: Rising Median Prices In June

Fla.'s Housing Market: Rising Median Prices In June

Florida's housing market is experiencing tight supply and pent-up demand. That's affecting the pace of sales and putting pressure on statewide median prices. Florida's economic growth, rising jobs outlook and acclaimed quality of life continue to draw new residents eager to call the Sunshine State home.

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Foreign Buyers Flood US Real Estate, But Buy Cheaper Homes

Foreign Buyers Flood US Real Estate, But Buy Cheaper Homes

Foreign buyers purchased $102.6 billion of residential property in the U.S. between April 2015 and March 2016, according to NAR's annual report on international activity in U.S. real estate. That is a 1.3 percent decline in dollar volume from the previous survey. The number of properties purchased, however, rose 2.8 percent to 214,885. The value of homes bought by foreigners was typically higher than the median price of all U.S. homes.

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Central Florida Home Prices Above National Average

Central Florida Home Prices Above National Average

Central Florida home prices are up by 6.9 percent compared with May 2015. Orlando-area home prices also saw a month-over-month growth, increasing by 1 percent over April. Statewide, Florida ranked No. 6 in year-over-year home price increase at 7.3 percent. Oregon and Washington came in at No. 1 and 2 at 11 percent and 10.1 percent, respectively.

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Florida’s Median Prices, Sales, Listings Rise In May

Florida’s Median Prices, Sales, Listings Rise In May

Florida's housing market is growing at a more moderate pace. New listings for existing single-family homes rose 5.8 percent compared to a year ago, while new listings for townhouse-condo properties rose 4.3 percent. While a tight housing supply is having an impact in many areas, still-low mortgage rates, increased jobs and economic growth will continue to boost housing demand.

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Orlando Home Sales Rise 7% Over The Last Year

Orlando Home Sales Rise 7% Over The Last Year

Orlando’s inventory of available homes is 11 percent below where it was this time last year and continues to impact both sales and price. Regardless, we are seeing a small trend of increasing sales that illustrates buyer enthusiasm for our current historically low interest rates and steadily rising values.

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Orlando's Home Inventory Declines 11 Percent In April

Orlando's Home Inventory Declines 11 Percent In April

Even though sales are up by comparison, there is just not enough quality choice to meet demand. At this point REALTORS® are encountering a lot of owners who are tempted by rising values to sell their current home to either upgrade or downsize. But since it’s so difficult to find a replacement they stay put, which further suppresses inventory.

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Now Is The Time To Buy In Orlando

Now Is The Time To Buy In Orlando

The buoyant activity of the residential housing market, combined with a strong and vibrant local economy continues to enhance the worldwide appeal of Orlando, very evident in the continued high level of international interest and investment to secure funds in the safe-haven of Central Florida.

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Orlando Continues To Lead The State In Job Creation

Orlando Continues To Lead The State In Job Creation

Gallup has ranked the Orlando metro area No. 1 in the nation for highest rate of job creation in 2015. Orlando has been in the top five for Gallup’s ranking, but this is the first No. 1 ranking in recent years. Gallup noted that Orlando and Las Vegas, which rely heavily on tourism to support their economies, are among the stronger U.S. job markets, “perhaps reflecting higher consumer confidence and consumer spending compared with the immediate post-recession years.”

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Invest In The U.S. - Orlando Ranks #2 In Rental Growth

Invest In The U.S. - Orlando Ranks #2 In Rental Growth

Orlando is growing a staggering rate, not only in tourism but also in other industries such as aerospace, media research, medical appliances, digital media, defense and in many other areas. It really is offering great security and potential for growth.

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Orlando Median Price Continues Upward Trek As Buyer Demand Increases

Orlando Median Price Continues Upward Trek As Buyer Demand Increases

The Orlando median home price has now experienced year-over-year increases for the past 55 consecutive months; as of February the median price is 60.17 percent higher than it was in July 2011. In addition, the current median price of $185,000 (also the median price in December 2015) is at its highest value since August 2008, when the median price was $200,000.

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Florida's Housing Market Continues Strong Track In January

Florida's Housing Market Continues Strong Track In January

The statewide median sales price for single-family existing homes last month was $199,000, up 13.7 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in January was $152,000, up 10.9 percent over the year-ago figure.

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Inventory Declines Drive Sales Down, Median Price Upward In January

Inventory Declines Drive Sales Down, Median Price Upward In January

The overall median price (all sales types and all home types combined) for the month of January 2016 is $176,500, a 13.87 percent jump compared to the $155,000 median price in January 2015. The median price is down 4.59 percent compared to the December 2015 median of $185,000.The Orlando median home price has now experienced year-over-year increases for the past 54 consecutive months; as of January the median price is 52.81 percent higher than it was in July 2011.

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What Should We Expect In Florida Real Estate In 2016

What Should We Expect In Florida Real Estate In 2016

"Florida is positioned to become one of the hottest spots in the country with rising demand, positive gains in recovery, really good fundamentals and positive momentum," said Jonathan Smoke, chief economist of realtor.com®. He said 2015 was a good year and 2016 looks to be similar. Smoke discussed the national housing outlook for the coming year, saying, "Home sales have pretty much recovered to their normal levels."

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Fla.’s Housing Market Ends 2015 With Strong Gains

Fla.’s Housing Market Ends 2015 With Strong Gains

2015 was a very strong year in terms of sales growth in Florida's single-family home markets, thanks to a sales surge that began in the fourth quarter of 2014 and lasted through the third quarter of 2015. Statewide closed sales of existing single-family homes totaled 274,769 in 2015, up 12.4 percent compared to the 2014 figure

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Wealthy Foreigners Bought $100 Billion In US Real Estate

Wealthy Foreigners Bought $100 Billion In US Real Estate

Overall, Florida was the top state for overseas real estate buyers, accounting for 21 percent of all U.S. sales to foreign buyers. California ranked second, with 16 percent, followed by Texas with 8 percent and Arizona with 5 percent. The top four states accounted for half of overseas buying.

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Orlando Ranked #2 By Forbes As Best City To Invest In

Orlando Ranked #2 By Forbes As Best City To Invest In

Orlando took second place and was followed by six other Sunshine State cities. Among them, average home prices are highest in West Palm Beach (No. 19) at $285,000 and lowest in Tampa (No. 14) at $193,000. The averages, though, have been accelerating at a rate of 9 percent to 14 percent in all the Florida cities.

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