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Central Florida Expected To See A Rise In Home Prices And Sales
McCabe said the population migration to Orlando, job growth due to large companies relocating headquarters to the Orlando area and an increase in household income has been driving the market. "While we've seen more jobs being created here, the median income is remaining flat even though the housing expenses are going up. As we get more companies to move their headquarters down here, we will see an increase in income and more home sales, because people will be able to save up for a downpayment rather then spending most of their income on rent."
The current median salary needed to buy a home in Orlando is $54,148, as the median home price here is $247,900.
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Orlando is the fourth largest city in the state of Florida and the 73rd largest city in the United States. Located in Florida’s “sun belt” region, this city is known for its warm climate,
Orlando home sales completed during 2017 finished out at 37,198, which according to the Orlando Regional REALTOR® Association is 3.8 percent above the cumulative sales total of 35,829 for.
It seems these Central Florida cities are about to get even hotter in the Sunshine State, as their home prices and sales are expected to rise in the coming year.Realtor.com's 2018 National Housing