Monday, July 03, 2006
Falls prices is what every sellers fear is when their property is one amongst many on the market with inventory levels the highest in the last decade. Experts say the pressure to unload property will cause sellers to drop their prices. A study by PMI Mortgage Insurance, surveyed top 50 metro areas. They looked at housing prices, labor statistics, housing affordability, home appreciation values and conventional mortgages to determine the percentage of declining home prices. The overall average was 28.8% chance of declining prices. Orlando had a 17.9% chance of declining prices which was down from several months ago. Orlando faired well compared to other cities. The highest percentage of declines prices were found in California and five areas in the Northeastern coast, with the highest being 59.9%. Orlando market still remains strong compared to other Florida cities, Ft. Lauderdale (44.1%), Miami (35.9%), Tampa-St. Petersburg (29.4). Courtesy of Orlando Sentinel 7/1/06.
Posted by Buyers Broker of Florida at 10:34:00 AM