Orlando ranked 3rd best Real Estate Market’s by CNN Money
January 4, 2010 by Mike Calvert · Leave a Comment
Here is some interesting data put out by the folks at CNN Money. It’s interesting to see that homes have risen 132% since the boom started, and have only come down 40% since the peak. Something to keep an eye on, is that they predict the bottom out to occur in Q2 of 2011! The Central Florida Real Estate Market has held up pretty well compared to most of the country, I anticipate that trend to hold moving forward. It’s definitely a great time to find the right home to flip in this new year! Best of luck!!
Home price forecast: -24.5% (one year, forecast through March 2010)
City Stats
Population: (2006) 1,984,855
Median family income: (2008) $59,200
Home Prices
Median home price: (2008) $218,000
Affordability index: (2008 median home price/family income) 3.7
Prices peaked in: 2006:Q2
Total climb during the boom: (2000 to peak) 132.3%
Total decline so far: (Peak through 2008) -40.4%
One-year change: (Q4 2007 to Q4 2008) -30.5%
Forecast
Price change : (from peak to bottom) -65.3%
When they’ll hit bottom: 2011:Q2
At bottom, prices will drop to levels last seen in: 1990:Q3
