Gay Orlando: Time To Buy Real Estate in Orlando is now!

I know that sometimes for homebuyers it feels as if you are bombarded by messages from overzealous real estate agents saying “Buy NOW!” however if you are looking for a LGBT friendly community to purchase a home in then Orlando really is up there on the list of top gay friendly cities. What’s more, the time to buy really is now as the latest sales and price figures are out and the news is great for those who already own a home.

That’s right, prices and sales are up. This does mean for those looking in a popular city like Orlando that you need to act fast as in some parts of the metro area there is a big fall in inventory as homes have been snapped up with homes selling faster as one-third of homes purchased in July being on the market for less than a month!

So what do the figures say? Well according to the National Association of Realtors sales of existing homes in July rose and the national median price has increased for the fifth consecutive month of year over year increases which hasn’t happened since the boom times of 2006. The increase has been around 2.3% nationwide compared to the previous month and 10.4% over the previous year! Prices are also up around 9% compared to 2011. Affordability has naturally fallen, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) which also reported a decline in their measure for home affordability – reported by RealtyTimes – from 77.5% to 73.8% based on all new and existing homes sold to families earning the national median income of $65,000. Mortgage rates are also on the rise from the all time lows in the 3.5% range according to RealtyTimes. So if you are going to grab that new home in Orlando now is definitely the time to get a locked in mortgage rate.

Figures for the south of the country – including Florida – show equally good numbers with existing home sales rising 2.3% also over last month and 8.6% above 2011. Prices were also up 6.6% over the previous year.

So if you are a LGBT homebuyer looking in the Orlando area then definitely get off the fence and purchase a home as soon as possible!

With Orlando being such a great place to live and having a very welcoming LGBT community and many friendly neighborhoods, the metro Orlando area is the perfect relocation destination. If you are considering relocating to Orlando and are looking for a beautiful property in the area contact Steve Glose for professional Orlando Real Estate advice.