Why auction Orlando real estate now?

Orlando-area home resales wither amid shaky market

Jerry W. Jackson | Sentinel Staff Writer

December 12, 2007

Central Florida's home-resale market continued to stagger last month under the weight of slack demand and sky-high inventory.

Fewer than 1,000 homes were sold in the Orlando Regional Realtor Association's core market in November -- only the second time in nearly 11 years that the number has dipped below that threshold. The other instance was three months ago, in September, when sales in the core market totaled 970.

The preliminary count of 963 sales in November was down nearly 48 percent from the same month a year ago, according to the association's latest monthly report. Through the first 11 months of the year, sales in the core market -- which consists mainly of Orange and Seminole counties -- were down 39 percent from the same period in 2006.

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