Orlando Real Estate News

Orlando Housing Sales are nearing a bottom says Freddie Mac!

Saturday Frank Nothaft, chief economist of Freddie Mac, said housing sales are nearing the bottom. With foreclosure sales accounting for a third of all sales, and unemployment on the rise Nothaft also added that these adverse conditions will trigger more foreclosures. The end of this slump is near though Nothaft conveyed.

 The Federal Housing Administration showed a sharp uptrend of FHA loans. The mortgage rates still have stayed low; Nothaft reported these rates are the lowest for 50 years. Nothaft also pointed out FHA loans are the largest share of the United States housing market since 1942.

 This is great news for sellers who desperately need to sell their homes. Buying activity is definitely up and as Nothaft points out the sales are picking up and many buyers are taking advantage of amazingly low home prices.

 Nothaft also had this to say about this year's homes sales:

"I think that by the time we get to the midpoint of the year, we'll begin to see the single-family market turning around and improving. So we'll see a pickup in home sales and construction activity in the second half of the year."

 Orlando's sales have increased though, the Orlando Sentinel reports.

This is a huge indication for buyers to get their deals done, before homes prices begin their inevitable rise.

 For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

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If you are wanting to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place while time is still on your side. Please contact us for any real estate assistance you may need.

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