State of the Market Summary for 2005

What has been happening in the 2005 Orlando real estate market.

I want to let you know that 2005 was a really terrific year for real estate investments around the Orlando area. Realtors sold 29,995 existing homes - that's just under 30,000 houses - and, with that number, 2005 became the 13th consecutive year there was an increase in existing houses sold.

Here's another number: there was 8.4 billion dollars in home sales in this area in 2005! And another number: there was a 15% increase in annual sales from two years ago to this.

From the wisdom and knowledge I've gathered in this business over the years, the Florida housing market seems extremely healthy. I'm thankful to tell you! And why not? Every week statistics show us that 1,275 people are moving into the Orlando area. This figure is projected to continue for the next ten years, so now is a great time to be part of the real estate market.

Interest rates look like they'll stabilize at around 7%. Home prices are more stable, too. In 2004, there was a shortage of homes which produced a 'buying frenzy' and raised up prices of homes. Now, though, more houses are being built and there's been an increase in existing homes for sale. This increase in inventory is serving to stabilize prices.

The Orlando area is really coming into its own and I'm glad that I'm a part of it!

More later,
Teri