ORLANDO FLORIDA HOUSING MARKET

The Orlando housing market has been experiencing dynamic changes as we enter the last quarter of 2024. Here are some key points to consider. After a period of rapid appreciation home prices has started to stabilize. While some areas may see slight declines, others may continue to appreciate, albeit at a slower pace. Some areas may still experience strong demand for rental properties, particularly among newcomers and those unable to purchase a home.

While inventory levels of homes for sale has increased providing buyers with more options. This shift has contributed to a more balanced housing market compared to the previous seller's market. With interest rates about to decline the middle of September, this may increase a spike in sellers putting homes back on the market and making it a bit more affordable for buyers to purchase a home. 

Experts suggest that the market may continue to evolve, with potential stabilization in home prices and ongoing demand driven by the area's growth and economic opportunities.

POPULATION GROWTH

Population growth significantly influences the rental market in many ways. With increased demand for housing a growing population usually brings diversity in demographics, including families, young professionals and students. This diversity creates varied rental needs, prompting landlords to offer different types of housing options, such as apartments, townhouses and single family homes. A population growth can capture investment opportunities looking to capitalize on the demand for rental properties. This can lead to more developments and conversions of existing buildings into rental units.

This population growth is also viewed by city and county officials to consider infrastructure upgrades and amenities, making urban areas more attractable to all. Enhanced public transportation, parks and entertainment options can increase demand for rentals in these neighborhoods.

Economic growth comes with population growth leading to more job opportunities. This can attract more renters to the urban area, further tightening the rental market. Overall population growth tends to create a dynamic rental market, influencing pricing, availability and types of rental properties in demand. See a trusted advisor for more details.

TRUSTED ADVISOR

As a trusted advisor, professional realtor and retired military veteran I am here to serve you in the Dr. Phillips and Central Florida housing market for the sale or purchase of your home. In the absence of trustworthy and up to date information of the buying and selling process. Whether it's a housing crisis or local housing market question, real estate decisions are increasingly driven by fear, doubt and uncertainty. We as trusted advisors drive the real estate community to ensure you are making the right decision.

Part of my job is to keep you informed and educated about the local housing market trends, pricing inventory level, buying and selling process to include common terms and videos. It is important to keep up with housing trends, don't let the media confuse you. They talk national level, I can provide the most current and updated local area information.

So don't let this shifting housing market delay your dreams, data reveal home values typically appreciate over time and that gives your net worth a nice boost. When you are looking for a home, look for a realtor with the heart of a teacher. If you are ready to start your journey call Kevin Strawter today at 850 496-6412 to begin a new walk to homeownership and all your real estate needs. Referrals always welcomed.