Compared to July 2005, sales closed has slightly declined while inventory has increased by a whopping 443% putting inventory at an all time high with interest rates almost 1% higher than they were a year ago.
June 2006 Statistics:
Inventory has risen 13% in one month. Sales closed compared to new listings is only at 31% causing homes to stay on the market longer and more expired listings.
May 2006 Statistics:
Inventory is still increasing at a phenomenal rate, over five times what it was for April of 2005. Sales closed and pending has actually dropped from 2005. Days on the market has remained relatively constant for the last several months. Shorter listings periods combined with increased inventory and reduced sales are allowing a greater number of listings to expire before selling.
To view graphs for inventory, new listings, ave. mortgage rates and sales pending.
From The Orlando Regional Realtor® Association
