Orlando Real Estate Market Trends of 2013
Published On: July 6, 2013 Posted by: TownsRealty
2013 has been so far a productive year for Orlando real estate. Towns Realty recorded a very positive and healthy trend and observed the overall increase in buying and selling activity from cash buyers and positive lender financing attitude. The return of real estate market trend which started out in 2012 is still in effect. Since January 2013 the home sales along with their prices are rising steadily.
Rise in value has increased the seller’s confidence, and because of this positive development the shadow inventory is also decreasing. A few years back the homeowners who had their properties in some state of foreclosure were not putting up their houses in market as the expected return was not enough to get the right value for their homes. So homeowners preferred to wait and were looking for a comeback and rise of the Orlando real estate market.
Short sales closing ratio has increased dramatically and Towns Realty is helping buyers and sellers close the short sale deals in record number of days. This is made possible as the Towns Realty short sale realtors guide the home buyers and sellers through every step of the process and help them communicate with their lender in the most optimal manner.
As the scale is balanced between the buying price and the selling price, the home affordability has never been better. The higher priced luxury home sales have also increasing because of the positive Orlando real estate market trend and availability of the record low mortgage rates is also very helpful. All this has accounted the return of home buyers and sellers confidence therefore increasing the buying and selling activities.
Since January 2013 the market has been fairing remarkably well and the prediction for the rest of the year is also very positive. Towns Realty foresees very constructive upward trend for the rest of year. With home affordability of Orlando real estate being best in years, and the resulting decline in home inventories, this is also great time for first time home buyers to purchase a property.