Each year the beginning of the school year usually marks the end of the busy selling season. Many people move to be in different school zones. Others time their move with the end or beginning of school year so they do not disrupt their children’s lives and schedules as much.
Breaking down the numbers:
The numbers for the Orlando real estate market reflect this seasonality every year – UNTIL last year. The pandemic had people working from home, kids attending school from home, and just in general creating different reasons to move which changed the timing needs as well.
Pre-pandemic the most home sales happen between May and August. Then there is a drop off in sales in September. It will be interesting to see how this shows up in 2021. The numbers are in for July and the sales are still breaking records. The number of pending homes is a little lower than last year but should still reflect a strong August too. The question is what happens next. Will the new normal of remote work change the seasonality we normally have?
Market Factors:
There are 3 things driving our home sales:
- Low interest rates
- The need for more space
- More people moving to Central Florida
Although we did see a slight increase in the available homes for sale this month up slightly from last month – it is down from last year. In fact, at the same time last year we had almost double the available homes for sale. With so many reasons to buy and so little available inventory, it looks like this market may last a while longer until the scales start to balance. If you want to take advantage of low rates and need more space there are still great homes to choose from, you just need a guide to get the equity from your house into a new one. Find out how to buy and sell at the same time with our Free Sell and Buy Guide or call us today to get started 407-982-7240