Source: orlando.bizjournals.com
The Orlando Regional Realtor Association is reporting that home resales in the Orlando market grew by more than 43 percent in June 2009 when compared with the previous year.
The steady increase in home sales in the Orlando area has led to an 8.4-month supply of inventory, the first time in 2009.
Housing economists consider that a market with six months of supply is balanced between buyers and sellers, the association reported.
The association said that their members sold 2,131 homes in June in the Orlando metropolitan statistical area. Of the homes sold, 46 percent represented bank-owned or distressed properties, while the remainder, 1,151 were “normal” sales.
The Association is also reporting that inventory is down by 1,292 homes from May 2009, implying that 1,292 more homes left the market than entered the market.
Home inventory drops to 8-month supply
