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Orlando Real Estate December 2022

Real Estate Agent with Charles Rutenberg Realty BK645994

Since the Federal Reserve started raising rates last year, we have seen the inventory of available homes increase and sales decrease when compared to the prior year. This continued in December. Inventory was up 146% compared with December 2021, and sales declined 42% over the same period. The rate hikes have also slowed the rise in prices with the median sales price last month increasing just 4% compared to a year earlier.

However, compared with November we did see fewer new listings and higher sales last month, so the inventory of homes for sale actually declined nearly 12% month over month. The months supply of inventory is 2.85 months down from 3.61 months in November, but still way up from 0.68 months in December of 2021. In my opinion, there is nothing to indicate a sharp decline in prices in the near term. In fact, if inventory continues to moderate, I expect we may continue to see slowed price appreciation.

Check out this brief video breaking down the #OrlandoRealEstate market results for December 2022.