Orlando’s homebuying season kicks off with
a decline in inventory and an increase in median price
The traditional start to Orlando’s homebuying season — April 1 — finds buyers continuing to grapple with a dwindling inventory that in March pushed home prices up 10 percent and restrained sales by 4 percent.
“Like much of the country, Orlando home sales are being impacted by a lack of inventory rather than a lack of buyers,” says ORRA President John Lazenby, Colony Realty Group, Inc. “For example, there is only 2.16 months’ worth of non-distressed single-family homes in the critical first-time homebuyer price categories. That’s even below the area’s overall 3.50 months-of-supply, which is far below the six months that economists consider balanced between supply and demand.”