Real Estate Update

Interest rates have up over 5.6% for the first time this year, causing another spike in the inventory available for sale in the Orlando market. Sales, however, have not slowed down as almost more than 2,700 homes changed hands in September. Comparisons to a year ago September are somewhat futile: due to the rash of hurricane activity last summer, only 1,587 homes sold in September 2004. Year–to-date sales are 13% higher than last year.
From The Orlando Regional Realtor® Association

To view graphs for inventory, new listings, ave. mortgage rates and sales pending.