Orlando Real Estate - Blog

April 13th, 2009 7:34 PM

Home sales continue to rise as housing affordability hits record high

Orlando area home sales have again experienced an increase in activity, with members of the Orlando Regional REALTOR® Association involved in the sale of 47.59 percent more homes in March of this year than March of last year: 1,653 to 1,120.

In addition, Orlando REALTORS® filed 76.06 percent more contracts in the month of March (2,956) than in March 2008 (1,679). Overall, pending sales — considered by housing economists to be a reliable indicator of future sales — continued its upward trend in March to 4,906. There were more than twice as many homes under contract in March 2009 than compared to March 2009 (2,398).

"Orlando homebuyers are getting back into the market and taking advantage of the improved affordability," says ORRA President Les Simmonds, L.G. Simmonds Real Estate Corp. "Lower prices, record low interest rates, and a vast selection of homes give homebuyers increased buying power, making it an excellent time to buy a home. This is especially true for first-time buyers who are eligible for the $8,000 first-time homebuyer tax credit." complete story

Source: OrlRealtor.com


Posted by Orlando Realty Experts on April 13th, 2009 7:34 PMPost a Comment (0)

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