Categorized | Residential

Orlando Housing Market Experiences Strong Increase

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The housing market in Orlando, Florida experienced a very strong increase during the month of October. Housing sales in the city increased by eighteen percent over the numbers from last year. The increase is the first many months, and the largest increase over 2010 numbers this year.

The overall increase is being attributed to low interest rates, and the lack of short sales and foreclosures available during the month of October. Housing prices in Orlando also increased during the past month, which is atypical when compared to the national average. While sales have increased in some areas of the United States, prices in those areas have generally declined. However, Orlando, like Miami, has experienced the opposite.

Orlando now joins Miami in bringing overall positive growth to Florida’s residential real estate market. Analysts are hopeful that the positive results will continue in Orlando. For Florida state officials, the growth in the city’s residential real estate market is certainly a good sign as to the possibility that the state may be able to rise out of the struggles experienced nationwide.

Houses in the Orlando residential real estate market generally are bought within one hundred days of listing, and typically sell for their asking price. Those numbers serve as a solid indication that the market is performing fairly well. There is hope that the positive growth will continue, though analysts are quick to emphasize that the growth itself will not become an actual trend until it has occurred for at least a few months in succession.

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About Josh Johnson

Josh is the main writer for the Residential category. He also helps out on other categories when needed, mainly the International section.

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