Sales decreased by 6 percent compared to October following that month’s surge in backlogged transactions. In addition to an increase in sales, the median price of Orlando homes sold during the month of November continued its year-over-year upward trend.
Florida's economy and jobs outlook continued to grow in the second quarter of this year. Florida had the third-fastest annual private-sector job growth rate in the nation. Meanwhile, the state's unemployment rate was 4.1 percent in June, demonstrating that Florida is more than a destination state, these positive economic factors drive Florida's housing market forward.
The resort area overall inventory was down 8.9% from 12 months ago as May total listings stood at 1794 compared to the 1955 in May 2016. By type normal owner listings totaled 1736 which compared to 1880 in May 2016. Bank owned homes comprised 36 of the total inventory while short sales comprised 22 which compared to the 41 and 34 respectively recorded in May 2016.
The Canadian Press has learned that the Ontario government will place a 15-per-cent tax on non-resident foreign buyers as part of a much-anticipated package of housing measures to be unveiled today.
The measures are aimed at cooling down a red-hot real estate market in the Greater Toronto Area, where the average price of detached houses rose to $1.21 million last month, up 33.4 per cent from a year ago.