The national housing market shift is slowly beginning to creep its way into the Orlando, as home prices begin to “c00l”, compared to the home values of February 2018. According to the Orlando Sentinel, home prices have shifted by 5.4%, compared to this time last year.
The noticeable shift is a sign that the seller’s market will soon turn into a buyer’s market. The National Realtor’s Association forecasts that the overall number of sales in the first quarter would be down by more than 7%. Zillow has also estimated that January of 2019 had a noticeable amount of price reductions hit about 20% of the current market.
Springtime has been known as the season for the most real estate production in many areas of the country, including the Orlando area. With the growing inventory and adjusted pricing for homes, many agents, including Jeffrey Fagan, the President of the Orlando Regional Realtor’s Association, believe that spring will still bring plenty of home buyers and sellers.
For more information, please click here to read more from the Orlando Sentinel.
