Home buyers in Orlando, one of the country's foreclosure hotspots, found themselves with fewer houses from which to choose in April than at any time since the end of 2005, according to a new report by the Orlando Regional Realtor Association.
Resale prices for homes in the core Orlando market rose 3 percent from March to April, to a midpoint of $105,000, as the inventory of properties for sale shrank by more than 1,000 houses during the month.
The one-month price increase in the core market (mainly Orange and Seminole counties) comes at a time when national analysts, looking at all sales in the larger, four-county metro area, are forecasting that Orlando will be one of the country's hardest-hit market this calendar year, with one study predicting a 19 percent price drop by December. So far in 2011, prices in the core market are flat with December's, according to the association's April report, which is based on members' sales.
