Our 1st quarter of 2020 ends in just 2 weeks. It is hard to believe how quickly this year is moving!

The last few weeks have been filled with fear and volatility in the stock market. Fears that we may be headed into a recession are on the rise. The Orlando real estate market has yet to show signs of this. We are starting to hear buyer and seller fears and having conversations but day to day activities feel normal. We put on a new listing, had multiple offers on a listing that’s now pending, wrote offers on a house that had multiple offers, and put another buyer under contract. BUT what’s important to remember is that we are always looking back in time when we’re looking at market stats.

We ended February with the LOWEST inventory on record in the last 15 years. Sales and pending sales were up too! It is no wonder it has still felt like a strong seller’s market. However, this could change overnight if the virus spreads further putting more strains on jobs.

With such low inventory, we would have to see an influx of new listings (like A LOT of new listings) or A LOT of buyers get out of the market. Definitely this will scare some people away from buying but the good news is the rates are still low and if it’s affordable to buy a home and people have a need, they will still buy.

Want to know more? Read about the top reasons why buyers buy homes at our local Downtown blog as well. Keep up to speed on the market on our Youtube channel as well. We will be posting updates weekly. SUBSCRIBE

Need to buy or sell – this isn’t our first shifting market and it won’t be our last. Give us a call today to navigate these tricky times. 407-494-2820