According to the Orlando Regional Realtor® Association the Orlando housing market appears to be seeking a middle ground between buyers and sellers as the pace of newly added inventory dropped in April and the median price increased just a fraction. The median price is down 3.11 percent when compared to April 2006, which indicates a correction from the red hot market of 2005. ORRA President Randy Martin, goes on the say market conditions are clearly favoring buyers. “It’s a good time to buy, in part because homebuyers are not pressured to make quick decisions. We are in a window of low interest rates with a plentiful supply of homes on the market. Buyers also now have more power to negotiate with sellers for help on downpayment or closing costs.” Says Martin.
The area’s average interest rate of 5.93 percent, a tick above last month’s rate of 5.83 percent, remains historically low. While the inventory of homes available for purchase through the MLS increased by 888 homes in April. According to ORRA.
We saw an increase in buyer interest last quarter, but buyers are still hesitant to make a purchase. With desirable interest rates and large inventory now is defiantly the time to buy.
Orlando growth is soaring due to Great weather, beautiful golf courses, great attractions, easy access to the ocean, new high tech jobs, and super home values. The neighborhoods of East Orlando have everything a newcomer would want when relocating. A rated schools, community events, great shopping and restaurants. We can find you the perfect home in a community that has everything.