The Orlando real estate market is ideal right now for buyers to finally purchase their dream home. The Orlando real estate market has been one of the biggest boom markets in the country since the early 1970‘s. Upon the opening of Walt Disney World back in 1971, Orlando and Central Florida became the fastest growing region in the United States. The Walt Disney Resort turned this area into the number one tourist destination in the world. With that, came jobs and thousands of permanent residents, who discovered the wonderful opportunities of Orlando.
The Orlando real estate market continued growing well into the 21st century. But when the national economy began suffering around 2006, so to did the Orlando real estate market. Like most other real estate markets around the country, the Orlando real estate market took a plunge for the next few years. Fortunately, the home prices in the Orlando real estate market have now stabilized and appear to have bottomed out. In fact, many experts now believe that prices are on the way up.
So, now is probably the best time in recent memory to purchase a home in the Orlando real estate market. Whether you are looking to buy a primary home or buy an investment home, the Orlando real estate market is now a perfect opportunity. Some reasons for this thought are as follows:
Great prices. Home prices in the Orlando real estate market have fallen tremendously over the past seven years, but now appear to have stabilized. There are many wonderful opportunities in this market.
Home sales volumes are increasing. This may show that the Orlando real estate market recovery is underway.
High inventory levels. Conditions are ideal for buyers to find their dream homes here in the Orlando real estate market. Inventory of homes is high for all types of homes. But keep in mind that as sales volumes increase, inventory levels will shrink and prices will start to rise again.
Low mortgage rates. Mortgage rates are still at the lowest levels since the 1960s. Buyers can get more home for the money, which is a perfect scenario for families looking to upsize.
Long-term-growth. Long-term economic and demographic trends benefit Orlando and the state of Florida. By 2012, economists believe that Florida will be the third most populated state in the country. Florida has been one of the fastest growing states in the U.S. for each of the past seven decades, with much of that growth occurring in Orlando and Central Florida. These trends are positive indicators for the Orlando real estate market growth.
Migration patterns. Even with a slowdown in the nation’s economy, expert projections see Florida’s population continuing to grow, bringing thousands of new buyers and sellers into the Orlando real estate market for years to come. As a favorite retirement destination, Orlando and Central Florida will benefit from these new residents.
Diverse economy. Orlando’s economy is extremely diverse – from the service industry to the manufacturing industry to the agricultural industry – supporting local, national and international companies. This diversity will help the Orlando real estate market stay strong for many years to come.
A great lifestyle. Let’s not forget the things that bring people to Orlando in the first place, and will continue to attract them – beautiful nearby beaches, world class attractions, countless outdoor activities, a great job market, great weather, and no state income tax! With all this, Orlando continues to be one of the greatest places in the world to live and the Orlando real estate market is as great as ever!
For more information on the Orlando real estate market, please contact us today or visit us at www. YourOrlandoRealty.com.
