The Orlando Real Estate Market: Inventory and Prices Rise

Seeking a Florida home mortgage loan in Orlando? You’ll have plenty of houses to consider, but a steep price to pay.

So explains a report released by the Orlando Regional Realtor Association. According to that group, inventory of single-family existing homes available for purchase in the city continued to rise in April, reaching 16,036. Compare this figure to a year ago at this time - only 2,947 homes were listed in the area’s Multiple Listing Service.

According to the ORRA Roth Report, the median home price in April rose by 13.76 percent over April of 2005 - to $248,000. The average Florida home loan rate in the month also climbed to 6.27 percent.

Of the 2,407 total homes changing hands in the Orlando area during April, 1,705 were single-family, 446 were condos and 212 were town homes/villas/duplexes.

All together, a total of 11,462 homes in the MSA have been sold by Realtors in 2006. When compared with April of 2005, however, all four counties saw sales decline. What does this mean? Orlando is a buyer’s market and those looking for Florida home loans in the area can probably find them below listed prices.