Orlando Among Top Places for Single Family Housing
Auction.com LLC, one of the top online Real Estate marketplace platforms, has just released their latest Single-Family Housing Market report. In it they list Orlando as the third top-ranked city for projected sales of single-family housing this fall. Coming in behind only Seattle, WA and Fort Lauderdale, we are on the edge of some great growth and wonderful opportunities for home buyers and sellers alike. Auction.com takes permit, sales and pricing activity from their platform to provide forecasts to rank the largest 50 metropolitan areas across the country. They review past and current trends, as well as economic and demographic growth forecasts to provide an in-depth picture for these areas. According to Auction.com, Orlando is among the best areas to buy a single-family home right now due to a combination of rising home prices, affordability, a strong housing demand and healthy demographic and economic factors, which contribute to what should be a continued demand in housing for the near future. With the latest results in, Orlando is high on the list and for good reason.
The key forces that are driving our number 3 rank on the list for Single-Family Housing are population and economic growth. For the last three years now, we have seen a 2% growth in population year over year. Our economy is thriving due primarily to our largest industry, leisure and hospitality. While other areas across the country are more reliant on product manufacturing and output for their economic growth, being in a warmer climate with year-round tourism has been a plus for Orlando. As we draw visitors year-round, our economy is growing year-round. In addition to the continued economic growth we have seen, the housing market itself is showing strong growth also. Compared to a year ago, home prices in the Orlando area are up 10%, and even better we have gained 48% in pricing levels since the bottoming out in 2011. These ongoing improvements in our home prices showcase the demand for housing is big in Orlando.
Orlando is a great place to live, and this latest report is one more way for us to see that others agree too. If you are looking to sell or buy, this is one trend in the market to watch. As we continue to grow in our economic development, and more people look to live in the area, our Real Estate market will be in greater demand. I am proud to be able to make the real estate process move smoothly for my clients, and I am here to help with all of your real estate needs. If you’re looking for a warm and engaging professional to help you with the purchase or sale of your home, contact me today at 407-234-5313 or by email: Jeff@JeffRoyle.com.