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More people buying a house in Orlando Fl
Date:-01-July-2011
More people buying a house in Orlando Fl
The number of people a house in Orlando Fl, including investment property sales, increased by 3% to 17,228 homes statewide, while sales of existing condos soared by 17% year-on-year, according to the latest data released by Florida Realtors.
Property sales increased in no fewer than 12 of Florida’s metropolitan statistical areas (MSAs) in May, while 14 MSAs also had higher condo sales.
Existing Florida home and existing condo sales statewide have now increased for six consecutive months, thanks to growing domestic and international demand for homes, including discounted property in Orlando.
Patricia Fitzgerald, the 2011 Florida Realtors President, said: “With low mortgage rates and a broad inventory of homes at affordable prices, qualified buyers are realizing that there may never be a better time for buying a house in Orlando Fl”
The average price of an existing home in Florida last month was $135,500 (€95,700/£85,000), down from $142,900 (€101,000/£89,500), representing a 5% fall.
Analysts with the National Association of Realtors (NAR) said that sales of foreclosures and other distressed properties continue to drive down the average cost of buying a house in Orlando Fl, presenting plenty of opportunities for investors in the process.
