Market Update: Sales Record in June

Market Update - blogThe real estate market in our area has a head of steam, and keeps moving. June sales were a record 3500 homes sold in our MLS in a month, and a 21% increase over last year.

Ironically, a lot of people perceive the opposite is true, because a lot of “perception” is based on emotion rather than facts. The interest rates have wiggled up above 4%, but that has not slowed things down. Foreclosures and foreclosure filings are down, inventory is down (3.5 months in June—a strong sellers market).

Looking at the law of supply and demand, we should see an above average appreciation for the next year, probably something like the 7% we have seen in the last 12 months.

View all of the statistics from Orlando Regional Realtor Association here.