Friday, February 15, 2019

It appears people are finally fed up with Orlando's terrible housing market

Posted By on Fri, Feb 15, 2019 at 2:25 PM

click to enlarge PHOTO VIA SHUTTERSTOCK
  • Photo via Shutterstock
As you and your roommates are probably aware, it has become increasingly more expensive and more annoying to buy a home in Orlando. But for the third month in a row, the area's bloated housing market has actually shown some signs of slowing down.

According to a recent report from the Orlando Regional Realtors Association, Orlando's available housing inventory jumped 8.4 percent in January, which is great news for potential buyers.

What's also slightly encouraging is the fact that sales dropped 13.8 percent last month, and a whopping 20 percent last December. 

In other words, now there are more homes on the market and people aren't buying up every shingled shack in existence, at least in Orange County, which saw a 17.9 percent drop in sales.



According to the report, Seminole County also a witnessed an 8.2 percent drop in sales last month.


What isn't encouraging is that Orlando's median home price continues to inch upward. According to the report, January's median home price for the Orlando area was $226,500, which is 0.7 percent above the January 2018 median price of $225,000.

However, if sales continue to dip into February, there's a good chance that two-bedroom, one-bathroom Saltine box you're eyeing in the Milk District might eventually be a reasonable bargain.

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