The housing market appears headed for a strong spring season. After a brief setback in December, the Pending Home Sales Index resumed its climb in January, posting a 2 percent gain over the month prior. The data puts pressure on Winter Park home buyers. This is because a “pending home” is a home that’s under contract to sell, but has not yet sold. It’s tracked by the National Association of REALTORS® and, among all housing statistics, it’s the only one that’s “forward-looking”.
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Written on February 15, 2013 by Marc Grossman in Market Reports
The Orlando Sales Statistics for the Greater Central Florida area are out for January 2013. The median price of Orlando homes sold during the month of January shot up more than 18 percent over that of January 2012, a year-to-year increase not seen since the tail end of the red-hot housing market in March 2006. Home sales that closed in January number 1923, an increase of 11.09 percent compared to January 2012. Orlando has now experienced seven consecutive year-to-year increases. The current inventory of available homes for sale again reduced to 7336, representing a 3.81 month supply.
A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time – in other words, it’s the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it’s specifically indicating which price range is more active.
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