NAR: Orlando home Prices
expected to see healthy Gains
Source 2005 American City Business Journals Inc. 10-6-2005
expected to see healthy Gains
Source 2005 American City Business Journals Inc. 10-6-2005
A recent released report by the National Association of Realtors indicates home prices will continue to appreciate at a healty rate in the Orlando area.
In fact, according to the study, the Orlando market is in excellent shape with a potential for significant housing equity gains, particularly home buyers who plan to remain in their houses for the long run.
"The local market is likely to appreciate at an above-normal rate because of the strong job growth and the steady rising number of retirees and foreign home buyers expected to purchase homes in Orlando in the coming years" says Lydia Pisano, president of the Orlando Regional Realtor Association.
In addition, the median price of an existing home in the Orlando area has risen 73 percent over the last three years. There has been 102,000 new jobs created in the past five years, and 110,000 new family single-family homes have been constructed within that same time fram. These market fundimentals, combined with tight inventories of existing homes available for sale in Orlando, mean that there is solid demand from buyers in comparison with the supply of homes on the market.
In other words, the local housing market is on solid footing, notes Pisano.
Orlando Price Gains Expected LANDDepo BuyVacationCondos
In fact, according to the study, the Orlando market is in excellent shape with a potential for significant housing equity gains, particularly home buyers who plan to remain in their houses for the long run.
"The local market is likely to appreciate at an above-normal rate because of the strong job growth and the steady rising number of retirees and foreign home buyers expected to purchase homes in Orlando in the coming years" says Lydia Pisano, president of the Orlando Regional Realtor Association.
In addition, the median price of an existing home in the Orlando area has risen 73 percent over the last three years. There has been 102,000 new jobs created in the past five years, and 110,000 new family single-family homes have been constructed within that same time fram. These market fundimentals, combined with tight inventories of existing homes available for sale in Orlando, mean that there is solid demand from buyers in comparison with the supply of homes on the market.
In other words, the local housing market is on solid footing, notes Pisano.
Orlando Price Gains Expected LANDDepo BuyVacationCondos
