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August 19th, 2008 3:56 PM by David W. Welch
The statistics for July as prepared by the Orlando Regional Realtor Association are available in this month's Market Pulse. If you have trouble opening this link, just go to my home page at www.DavidWelch.com. Check out some of the graphs at the bottom, especially the price and sales charts. You can see that prices came down and sales responded by picking up every month this year through June. July sales typically fall a little behind June, and this years was no exception. Look for August to be a little slower still as school resumed this week. September will also be a little behind the summer numbers, but we usually see a rebound in October. Of course, there is a huge number of pending sales that could finally get closed creating a sales spike.
New construction numbers came out today, and nationally they are at their lowest level in 17 years. This is consistent with what we have been seeing here as builders are hesitant to build speculatively. Consequently, the new home inventory is really starting to go down.