A lot has changed in the world since last month’s “What’s Trending” market update.” We hope you are staying well during these odd and historic times.

Although we are working from home and my backyard is basically my office, we are still dedicated to being your Realtors and local economist of choice. I am constantly analyzing the numbers and working to keep our friends, family, clients and future clients informed so you can make the best decisions related to buying or selling homes.

The market has seen some shifting of numbers and interesting things are happening. We will certainly feel the changes caused by the COVID-19 outbreak it’s economic impacts. I think a lot of the world expects the real estate market to crash and, of course, none of us have a crystal ball to know what will happen. All we can do is look at the facts and so far the Orlando market remains strong with equity gains of almost 8% since last year and still low inventory. In fact last month was a historic low for the number of homes for sale in Orlando – check out the March What’s Trending post to learn more.

Things to watch…

Things we will continue to watch is number of pending sales. That drastically declined over a 2 week period but seems to be leveling off to some degree. However it’s the first time in 7 years that we have seen the number of pending sales decline between the month of February and March. This is usually the time of year we start to see strong pending numbers as we head towards the hot summer season.

This would pose a big problem except the listing inventory is still so low! It’s still relatively easy to get your home sold, especially if you fall into the median or average price ranges.

There are always opportunities in any market. Right now there’s a strong opportunity if you need to sell a small home and buy/upgrade into something larger and more expensive. It’s more challenging to finance something in the jumbo market (over $510,400 loan amount) but we can help you navigate this. If now is the time to sell or buy, life does go on and we can help no matter what market we are in today or tomorrow. Call us with any questions at 407-494-2820.

Keep up with the market weekly with our Youtube channel playlist – update videos every Friday.