Orlando a Hot Market

Realty Times now describes Orlando as a Hot Market. More surprisingly, they think the market has shifted from a “buyer’s market” to a “normal market”:

“The market is currently in normal absorption rate at about a 7-month supply with more than 12,000 homes on the market. ”

While we’ve already written on how the under $50K condo sub-market has become an aggressive “seller’s market”, I have to say I’m surprised to see figures suggesting the rest of the market has normalized.

Realtor.org is now saying that across the country, home affordability has an 18 year high “with nearly 73 percent of all homes sold in the first three months of 2009 considered affordable.” That has to be good news.

In other news, Downtown Orlando’s movie theatre at the Plaza (next to Solaire) has finally opened.  Finally, this on then off again downtown staple has manifested itself. So Orlando’s in danger of looking like a real downtown again of late. Affordable condos, a Publix supermarket and a place to go see movies? Whatever next!

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