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FHFA: U.S. 2Q Prices Up 17.7% – But Over 26% in Fla.

September 15th, 2022 by tisner


Of 100 metros tracked by government-backed mortgages, 8 Fla. cities hold top-11 spots, with Sarasota-Bradenton (up 36.5%) and Cape Coral-Fort Myers (36.0%) at the top.

WASHINGTON – It’s hard to underestimate the strength of Florida’s current home price increases in the second quarter of 2022 based on the Federal Housing Finance Agency House Price Index (FHFA HPI).

Index scores are based on mortgages – more than half of all in the U.S. – backed by Fannie Mae and Freddie Mac.

Of the 100 cities the index tracks, almost all Florida metros anchored the top 10 for year-over-year price increases, including two metros in the first and second spots. Only one Florida city, Miami-Miami Beach-Kendall, didn’t make the top 10, and it was No. 11.

Overall U.S. house prices rose 17.7% year-to-year in the second quarter (4.0% quarter-to-quarter), but no Florida metro area had an increase less than 26%.

Top 100 rank of Florida metros and year-to-year price increase

1. North Port-Sarasota-Bradenton: 36.5%

2. Cape Coral-Fort Myers: 36.0%

4. Tampa-St. Petersburg-Clearwater: 29.6%

5. Jacksonville: 29.0%

8. Fort Lauderdale-Pompano Beach-Sunrise: 26.9%

9. West Palm Beach-Boa Raton-Boynton Beach: 26.4%

10. Orlando-Kissimmee-Sanford: 26.3%

11. Miami-Miami Beach-Kendall: 26.1%

Overall, however, the nation started seeing a slowdown in the rate of home-price increases.

“Housing prices grew quickly through most of the second quarter of 2022, but a deceleration has appeared in the June monthly data” says William Doerner, Ph.D., supervisory economist in FHFA’s Division of Research and Statistics. “The pace of growth has subsided recently, which is consistent with other recent housing data.”

Other 2Q findings

  • U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.
  • House prices rose in all 50 states and the District of Columbia year-to-year. The five areas with the highest annual appreciation were: Florida 29.8%, Arizona 25.5%, North Carolina 25.2%, Montana 24.9% and Tennessee 24.3%
  • The areas with the lowest annual appreciation were the District of Columbia 5.2%, North Dakota 10.6%, Louisiana 10.8%, Minnesota 11.3% and Maryland 12.0%.
  • House prices rose in all of the top 100 largest metropolitan areas over the last four quarters greatest in North Port-Sarasota-Bradenton (up 36.4%) and weakest in Washington-Arlington-Alexandria (up 9.1%).

© 2022 Florida Realtors®

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Source: https://www.floridarealtors.org/news-media/news-articles/2022/08/fhfa-us-2q-prices-177-over-26-fla

‘Tool Time’ Tax Holiday Starts Saturday

September 1st, 2022 by tisner

Do-it-yourselfers and remodelers now have their own sales-tax free Fla. holiday. From Sept. 2 to Sept. 9, there’s no state sales tax on tools, work gloves, etc.

Florida’s first “tool time” sales-tax holiday on tools and other home-repair and construction items will kick off during the Labor Day weekend.

The seven-day holiday, part of a wide-ranging tax bill passed this year, will allow shoppers to avoid paying sales taxes on numerous home-repair and construction items from Saturday through Sept. 9.

“I think it’s just to give a boost to our skilled workers,” Florida Retail Federation President Scott Shalley said. “The Legislature and the governor had a lot of insight to say, ‘Let’s give them a break around Labor Day here.’ I think it’s a great time, particularly with the inflationary pressures we are seeing right now.”

The name of the holiday loosely comes from a home-improvement show within the 1990s sitcom “Home Improvement.” The idea of the discounts is to recognize the efforts of workers, lawmakers said.

“If you think about a year-and-a-half or two years ago, the first time we started hearing the word COVID, one of the things you started hearing after that is who’s … essential workers,” Rep. Joe Harding, R-Williston, said as he argued for the tax holiday March 2 on the House floor. “We heard a lot about our first responders and our health-care workers. But we also learned really quickly how essential the people that pick up a tool bag and drive a work truck every day are.”

The tax package (HB 7071), which Gov. Ron DeSantis signed in May, also included tax holidays for purchasing disaster-preparation items before hurricane season, back-to-school items before children went back to classes and entertainment and recreation items around Independence Day. Lawmakers and DeSantis also approved a period when people could buy children’s books without paying sales taxes and gave year-long tax exemptions on items such as baby diapers and Energy Star appliances. Also, the state gasoline tax will be suspended for a month in October.

State economists have projected the tool-time holiday will reduce state revenue by $9.6 million and local revenue by $2.8 million.

Dominic Calabro, president and CEO of the non-profit Florida TaxWatch, said the holiday also will help “everyday homeowners.”

Here are some of the purchases exempt from sales taxes during the tool-time holiday:

  • Work gloves that cost $25 or less.
  • Hand tools, LED flashlights, safety glasses, protective coveralls and duffle bags that cost $50 or less.
  • Tool boxes that cost $75 or less.
  • Shop lights, tool belts and electrical-voltage and related testing equipment that cost $100 or less.
  • Handheld pipe cutters, drain opening tools and plumbing-inspection equipment that cost $150 or less.
  • Work boots that cost $175 or less.
  • Power tools and tool boxes for vehicles that cost $300 or less.

Source: https://www.floridarealtors.org/news-media/news-articles/2022/08/tool-time-tax-holiday-starts-saturday

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Possible Rent Relief Coming for 3 Fla. Cities

August 25th, 2022 by tisner


Miami is slated to get almost 20K new apartments this year as multifamily construction cranks up. Also on the top 20 list for newly built units: Orlando and Tampa.

NEW YORK – According to RentCafe, U.S. apartment construction is at a 50-year high, and new units debuting this year may offer some relief to tenants struggling to find a place to live.

The listing service estimates that 420,000 apartments should be delivered nationwide this year, with a construction explosion particularly notable in Southern cities like Dallas and Miami, where many Americans migrated during the pandemic.

In Florida, Miami, Orlando and Tampa made RentCafe’s top 20 list for new apartment units expected to debut this year. Half of the top 20 metropolitan areas ranked by construction should reach five-year highs in apartment deliveries this year.

Total new apartments debuting this year

  1. New York: 28,153
  2. Dallas: 23, 571
  3. Miami: 19,125
  4. Austin, Texas: 18, 288
  5. Houston: 17,759
  6. Phoenix: 15,988
  7. Seattle: 15,341
  8. Atlanta: 12, 838
  9. Washington, D.C.: 12,176
  10. Los Angeles: 11,536
  11. Orlando: 11,388
  12. Denver: 10,570
  13. Nashville: 9,620
  14. Raleigh, N.C.: 9,104
  15. Charlotte: 8,732
  16. Chicago: 8,573
  17. Portland, Oregon: 8,476
  18. San Francisco: 7,399
  19. Minneapolis-St. Paul: 6,266
  20. Tampa: 6,092

The pandemic exacerbated the nation’s housing inventory due to labor shortages and supply-chain disruptions, but RentCafe says apartment developers were generally able to ramp up the pace of construction in the past 18 months or so.

“The construction industry is finally returning to pre-pandemic levels of activity but is still being hampered by three familiar challenges: labor shortages, material costs and availability, and supply chain issues,” says Doug Ressler at Yardi Matrix.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Source: https://www.floridarealtors.org/news-media/news-articles/2022/08/possible-rent-relief-coming-3-fla-cities?utm_campaign=8-24-22+Florida+Realtors+News&utm_source=iPost&utm_medium=email

Making Changes? Check Your Homeowners Policy

August 23rd, 2022 by tisner

Renovating your home is no small investment. Making structural changes can require changes in your home’s insurance policy as well. Check out this list of the most popular improvements before calling your agent: 

  • A new roof could lower your premium, especially when upgraded to the latest standards of protecting your home from natural disasters. 
  • Whenever you increase square footage by way of a home addition, your policy will need to be upgraded, increasing your premium. 
  • Converting already-existing space into a master suite or a media room may not require changes to the policy if the square footage is already covered, but since the replacement value has changed, it would be wise to increase your coverage. 
  • When making upgrades to your home, whether using top-quality building materials for a renovation or finishes or installing state-of-the-art appliances in the kitchen, increasing your policy’s replacement value for these items would be worth the additional amount in the premium. 
  • Improving home systems, i.e., the electrical or plumbing, can lower your premiums, as upgrades can make your home safer from incidents relating to fire and leaking pipes. 
  • Installing a pool or hot tub in your backyard will add to the replacement value of your home, and liability coverage will need to be increased to protect yourself in case of any accidents. 
  • According to Safewise, adding a home security system could lower your homeowner’s premium by 20%.   
  • Depending on how they are mounted, adding solar panels may require a policy of their own, which would add to your budget.  

Protecting your home should be top priority, but it is wise to be prepared for anything that will add to your monthly budget. Schedule a meeting with your insurance agent before beginning any changes in your home so there will be no surprises when your payments increase. 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: universal property 

Orlando State of the Market July 2022

August 18th, 2022 by tisner

Access Teri’s one-stop Orlando FL home search website.Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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By: www.orlandorealtors.org

Hot Housing Market Keeps Foreclosures at Bay

August 11th, 2022 by tisner

Homeowners who have hit hard times face foreclosure, but most now also have lots of equity and they’re selling rather than going into foreclosure.

NEW YORK – The hot housing market keeps many delinquent mortgage borrowers from being foreclosed, with their home values often exceeding their mortgage principal. As a result, strong home prices and tight inventory frequently give homeowners the option to sell before facing foreclosure. In addition, federal forbearance programs and other safeguards offer them some breathing room.

Although foreclosure starts have risen since the moratorium ended last July, the current number is still roughly half of what it was for the same period in 2019 and about a tenth of the peak during the 2007-09 recession, according to ATTOM Data Solutions.

The S&P CoreLogic Case-Shiller National Home Price Index estimated that single-family home prices in major metros climbed around 33% in the two years ended February; price drivers included urban renters moving to buy more spacious suburban homes, long-term government stimulus, and a rapid economic rebound following COVID-19 lockdowns.

The National Association of Realtors (NAR) forecasts a 9% annual decline in housing demand, although home prices are unlikely to fall due to limited housing supply caused by labor shortages and limitation of buildable lots.

ATTOM’s Rick Sharga noted the pandemic-fueled job losses disproportionately impacted younger, lower-wage non-homeowners, while the persistence of elevated inflation means lower-income mortgage borrowers with little financial buffers could face a higher risk of default.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Source: Wall Street Journal (06/19/22) Matsuda, Akiko
https://www.floridarealtors.org/

Buying a Home After Financial Setbacks

August 9th, 2022 by tisner


Filing bankruptcy or losing your home to foreclosure does not mean the end of the road for financial success afterwards.  It can be scary to even think about buying another house, but it is not impossible! Check out these tips to help you back on your way to homeownership:
 

  • Probably the most important thing to do is to pay all of your bills on time and in full. This will get your credit score climbing back up to a number that will look good to lenders. 
  • The bankruptcy process begins and ends with required financial courses.  Ask for a fee waiver so the added costs are not a burden. 
  • If your last home went into foreclosure, there are waiting periods for applying for a mortgage: three years for FHA loans, seven years for Fannie Mae/Freddie Mac loans, two years for Veterans Affairs loans, three years for USDA loans, and other lenders have different waiting periods. 
  • The homebuying process is different for those above-mentioned agencies when it comes to past bankruptcy. It simply depends on the type of bankruptcy filed. 
  • Going through a short sale may be a different situation, but this process has a waiting period as well. The average wait time to apply for a mortgage is two to seven years. 
  • Some financial institutions may ask for an explanation–in writing–about the situation that led to the foreclosure or short sale, as well as what you learned during the process.   
  • Extenuating circumstances, such as a major illness or job loss, can make a difference in how long you have to wait to apply for a mortgage.  Be prepared with any paperwork that shows your loss of income or increase of debt. 

When you are ready to start house-hunting, find a RealtorⓇ that is experienced with assisting those who have experienced financial hardship and lost a home in the past.  They have a wealth of knowledge to help you every step of the way on the path to a fresh start! 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: Dreamstime

U.S. Housing Market Collapse? Nowhere in Sight

August 4th, 2022 by tisner


The housing market has taken a few hits, such as a doubling of mortgage rates in 2022, but it remains solid even if legitimate news providers suggest doom and gloom.

NEW YORK – The rock-hard foundation of the U.S. housing market is suffering some cracks, but an outright collapse is nowhere in sight.

Regardless, sensational news headlines are reverberating like seismic tremors around the country. Here are recent inflammatory headlines from legitimate websites:

  • “U.S. home prices are about to tumble as demand for new houses ‘craters,’ an economist warns.” (BusinessInsider)
  • “Homebuilder confidence suffers near-record plunge” (Newsweek)
  • “Scary times: builders are slashing home prices and slowing construction as buyers pull back, survey shows” (MarketWatch)
  • “The housing market is entering the ‘most significant contraction in activity since 2006,’ says Freddie Mac economist” (Fortune)

Gloomy reports like these can be enough to make builders halt building. Or to prompt homebuyers to delay buying. Or to discourage mortgage brokers from lending.

In an unintentional collaboration, depressing news can have a chilling effect on the housing market. They create a negative tone.

In recent years, however, the real estate market has been resilient, through the ups and downs of the U.S. economy, through pandemics. On a national level, home prices soared 40% over the past two years, according to the Case-Shiller Price Index.

These price increases have been even bigger in Northeast Florida. And even more so in trendy places like Amelia Island, where a hearty demand outstrips a limited supply of houses and condominiums and raw land.

A new complication has clouded the housing picture in recent months, however. It’s the almighty Fed.

With its eye on cooling down inflationary prices, the Federal Reserve has embarked on a campaign of interest rate hikes. Therefore, borrowing costs have inevitably increased for homebuyers.

Meanwhile, the U.S. economy is sputtering, bordering on the brink of a mild recession. Inflation rages at the hottest pace in 40 years. However, employment is still healthy – contrary to most recessions. So there are mixed economic signals.

With U.S. stocks dipping into bear market territory, the economic backdrop for real estate has ultimately darkened. Homebuilding stocks have also cratered – a leading indicator of what potentially lies ahead.

“The market is adjusting to a new reality, with much lower sales volumes and far more inventory,” says Ian Shepherdson, chief economist at Pantheon Macro. “Prices, therefore, have to adjust to the downside, likely quite substantially.”

With Federal Reserve’s recent moves, mortgage rates have doubled from previous levels. As expected, mortgage applications have dropped off a cliff – to the lowest level since 2000.

The same level of decline has been seen in homebuilder confidence. A measure of this confidence dropped precipitously in July. Consequently, prices of new homes should follow a similar downward path, although the trajectory is the question.

The number of home listings remains low nationally. However, new listings increased at the fastest pace in five years, according to Realtor.com. And listing prices are being reduced in some red-hot markets (Austin, Las Vegas, Nashville).

But all these measures and statistics and sensational headlines must be put into context. Home prices are still near record levels, in most places. Here in Nassau County, prices are still at record levels, especially around Amelia Island.

Cracks in a foundation will usually spread over time. And only time will tell how the housing market endures, through the obstacles and challenges.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

By: www.floridarealtors.org and Steve Nicklas

Short-Term Fixes for Urgent Home Repairs

July 26th, 2022 by tisner


Things happen, and it seems that they usually happen on weekends or after normal working hours. What do you do until a professional makes a service call? Find the temporary solution to many emergency needs here:
 

  • Leaky roof:  Search for the leaking area in the attic while it is raining and call a roofing company or handyman as soon as possible. Cover the area with a heavy-duty tarp, using nails to keep it in place.  
  • Broken window: Wearing work gloves and safety glasses, remove any broken glass pieces. Use heavy-duty plastic and weather-proof tape to cover the hole or cover the window completely, sealing it well to keep out rain or cold. 
  • Leaking water pipe: Turn the water off at your water main. Stop small leaks with epoxy putty. Do not allow pipes to continue to leak or think the putty will hold forever. Have a plumber address the issues. 
  • Water heater leak: The first thing that should be done is to turn off the water heater breaker or gas flow, then turn off the cold-water flow to the heater. Call your plumber immediately, then start cleaning up with towels or a wet/dry vacuum. If water has flooded the room, take photos before cleaning up, and call your insurance company. 
  • Clogged drain: Using a plunger for clogs is better and safer than using store-bought drain cleaners. This video from Ask This Old House shows homeowners the proper way to clear drains. If none of those solutions work, calling a plumber is in order, as a backed-up drain will eventually burst and create a much larger mess. 
  • Gas leak: Whenever you smell sulfur or the “rotten egg” odor, it is usually a gas leak. Get out of your home, turn the gas off outside by turning the valve control to a perpendicular position, and call your utility company immediately. Do not go back into the home until the leak has been checked and repaired. 

Keep in mind that these are temporary repairs! Neglecting to make repairs can cause extensive and costly damage to your home. The plumber’s bill for a leaking water pipe is much less expensive than replacing rotting floors. Taking care of emergencies as quickly as possible protects your investment and saves money in the end. 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Photo credit: Simpson Windows and Doors 

Orlando State of the Market June 2022

July 21st, 2022 by tisner

Orlando Area Residential Real Estate Snapshot for June 2022

State of the Market

  • Inventory increased by 41.2% from May 2022 to June 2022, with 1,586 more homes on the market in June compared to May. This is the second month in a row with a surge in inventory, following May’s increase of 44.2%.
  • Inventory increased by 75.5% from June 2021 to June 2022, jumping from 3,098 homes in June 2021 to 5,437 in June 2022.
  • June’s median home price was recorded at $387,000, an increase of 1.9% compared to May 2022; this sets a record high for the fifth month in a row. This is a 22.9% increase from June 2021 to June 2022, when the median home price was recorded at $315,000 in June 2021.
  • Interest rates increased from 5.3% in May 2022 to 5.5% in June 2022. This is the highest interest rates in the Orlando area have been since November 2008.
  • Overall sales in June 2022 decreased by 3.9%, with a total of 3,793 sales compared to 3,946 sales in May 2022. This is a 14.1% decrease compared to June 2021 when overall sales were recorded at 4,414.
  • Homes spent an average of 20 days on the market in June, down slightly from May 2022 when the average was 21 days.
  • New listings increased by 11.3% from May 2022 to June 2022, with a total of 5,367 new homes on the market in June.
  • “A balanced housing market has a six-month supply of homes,” said Tansey Soderstrom, Orlando Regional REALTOR® Association President. “In June, with rising interest rates and surging inventory, we had over a one-month supply of homes for sale for the first time since February 2021. While it’s still a sellers’ market, we’re continuing to see signs that the market is starting to level out, which is good news for buyers.”

Market Snapshot

  • Interest rates continue to increase as the average interest rate for June 2022 was recorded at 5.5%. This is an 87.5% increase from June 2021 when interest rates were at 2.9%.
  • Pending sales decreased by 8.9% from May 2022 to June 2022 for a total of 4,231 pending sales.
  • 23 distressed homes (bank-owned properties and short sales) accounted for 0.6% of all home sales in June 2022. That represents a 4.2% decrease from May 2022, when 24 distressed homes sold.

Inventory

  • Orlando area inventory increased by 41.2% from May 2022 to June 2022 from 3,851 homes to 5,437 homes. Inventory in June 2022 was 75.5% higher than in June 2021.
  • The supply of homes increased to 1.43 months in June 2022. This is the first time the supply has been over one month since February 2021. A balanced market is six months of supply.
  • The number of new listings increased in June 2022 from May 2022 by 11.3% to 5,367 homes.

 

Access Teri’s one-stop Orlando FL home search website.Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

 

This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the Stellar Multiple Listing Service. Neither the association nor StellarMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or by StellarMLS does not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales represent sales involving Orlando Regional REALTOR® Association members, who are primarily – but not exclusively – located in Orange and Seminole counties. Note that statistics released each month of be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

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