Sales activity versus available inventory drive Orlando’s supply of homes to its lowest point since 2013
Buyer activity during the month of March pushed the supply of homes available for purchase in Orlando to just 2.48 months’ worth, the lowest since May of 2013 and swinging the market pendulum further towards favoring sellers. Housing economists consider six months of supply to indicate a market that is balanced between buyers and sellers.
“Buyers have turned out in force for the start of Orlando’s traditional spring/summer buying season, enough to drive sales up by nearly 40 percent compared to last month,” says Orlando Regional REALTOR® Association President Bruce Elliott, Regal R.E. Professionals LLC. “The health of Orlando’s economy and job market are significant factors in the jump in sales, as a sense of urgency among buyers trying to beat an anticipated increase in mortgage rates.”