Orlando Home Prices Rise in September as Inventory Dips

According to the Orlando Regional Realtor Association (ORRA), Orlando's housing market recorded year-over-year increases in both sales (7%) and median price (5%) in September 2019. The inventory of home available for purchase, however, saw a second consecutive decline after nine months of positive postings. "The unexpected boost in post-summertime sales can be attributed in part to encouragement from falling interest rates," says Orlando Regional Realtor Association President Jeffrey M. Faga. "The average interest rate paid by Orlando homebuyers have dropped each month this year since February, and the September average rate of 3.68% is down 21% from the September 2018 average rate of 4.66 percent."