Orlando home sales declined in August while the area’s median price continued its upward trend, albeit at a slower pace, reports the Orlando Regional REALTOR® Association. According to ORRA Chairman Zola Szerences, RE/MAX Central Realty, the relative slowdown in median price increase can be attributed in part to a significant uptick in foreclosure sales. “Closings on foreclosures jumped 30 percent in August,” explains Szerencses. “Foreclosures tend to carry discounted price tags — great opportunities for buyers — so the cumulative effect of all these sales is a restraint on the median price.”
Posted on: Mon, 13 Oct 2014 12:33:55 +0000
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