Central Florida Real Estate Market Recap - July 2021

Posted by Florida Realty Marketplace on August 18th, 2021

The time homes are spending on the market has reached a historic low.

July 2021 Recap

State of the Market

• Orlando’s median home price reached $320,000 in July 2021, continuing a six-month trend of record-setting prices. The increase is 18.5% from July 2020, when the median home price was $270,000.
• Sales fell 5.2% in July 2021 compared to the previous month; however, they have spiked 13.7% from July 2020.
• The time homes are spending on the market has reached a historic low. In July 2021, homes spent just 26 days on the market.
• Inventory rose for a third straight month in July 2021 but is still down 43.3% year-over-year.
• “We are seeing the housing market start to level off from its peak, but that doesn’t mean…

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Home Prices Hit New Peak

Posted by Florida Realty Marketplace on May 31st, 2017

After the 59th straight month of appreciation, home prices have hit another peak, according to the latest Home Price Index (HPI) report released by Black Knight Financial Services on Tuesday. The national HPI now sits at $272,000.

Home prices also hit new peaks in eight states, including Indiana ($151,000), Massachusetts ($381,000), New York ($371,000), North Carolina ($207,000), Pennsylvania ($222,000), Tennessee ($194,000), Texas ($234,000), and Washington ($360,000). Prices hit new peaks in 15 major metro markets, too, including Boston, Dallas, Houston, Los Angeles, San Francisco, Seattle, and more.

Since the start of 2017, home prices have jumped 2.3 percent. Between February and March, they rose 1.3 percent, and over the year, they grew almost…

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Think Home Prices Are Too High? Affordability Is Still At All-Time Bests

Posted by Florida Realty Marketplace on April 7th, 2017

Homes Are Very, Very Affordable Right Now

Affordability is at one of its highest points in a generation.

It just doesn't seem like it.

Home prices are up nearly 6% since last year, and analysts predict another 5% jump in 2017. Plus, mortgage rates are at levels not seen since 2014.

Surely this can't be an affordable housing market.

Except that it is.

That's the conclusion from First American, a real estate title insurance provider and creator of the First American Real House Price Index (RHPI). The index -- one of the few of its kind -- considers not only nominal home prices, but also income levels and mortgage rates, too.

The result: home prices are 33% more affordable today than they were at the height of the "bubble" in 2006.

…

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