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Sales and prices of existing homes in the Orlando area remained flat in May from the month before, according to a monthly Realtor report released Wednesday.

The steady prices are somewhat of a change from a decline of almost two years, but they come at a time when prices historically rise with the busy summer buying season.

The Orlando Regional Realtors Association reported that a dramatic increase in the volume of sales and pending contracts from a year ago were strong indicators of an improving market. The association, which tracks activity of its members, broke down sales into three categories: normal sales, bank-owned sales and distressed sales.

Median prices on existing homes ranged from $82,000 for houses sold by banks to $165,000 for what the association dubbed as "normal" sales, the report showed. Central Florida's overall median price was $130,000, which is the exact same number as the association reported for April. complete story

Source: OrlandoSentinel.com - Mary Shanklin

Posted by Orlando Realty Experts on June 11th, 2009 11:03 AMPost a Comment (0)
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