Great article in the Orlando Sentinel online this afternoon about existing home sales in Orlando. We continue to be the bright spot in Florida. We had almost four times the sales of the Miami area, even though they are quite a bit larger than Orlando. In fact 14% of all the real estate sales in the state of Florida occurred in the Orlando marketplace.
Almost every week, I read some negative article about Orlando real estate. Prices have fallen a great deal in the City Beautiful, the inventory continues to run very high, and there are quite a number of distressed properties. Despite the doom and gloom, the weather also remains absolutely fantastic. We have a cold front moving through right now so the high is only in the mid sixties with clear blue skies and lots of sunshine. We still have over a billion dollars worth of construction underway with our new performing arts, arena and Citrus Bowl projects. There is still a new medical city developing with a medical school, bio-medical hub, VA and childrens hospitals being built. Orlando is still one of the top tourist destinations in the world. We also have a pretty good digital media, simulation and defense contracting business in Orlando. Click the link below to read the article in the Orlando Sentinel.
http://www.orlandosentinel.com/business/orl-existing-home-sales-orlando-111808,0,2974631.story
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