The decision to buy a home is one that each individual must make based on their personal situation. The right time to buy a home will depend on more that what the real estate market is doing or what other buyers in the market place have done. A buyer’s need and desire to own a home are the driving force for many and when you take those two factors into consideration along with low mortgage rates, special incentives being offered such as builder incentives and the home buyer tax credit plus affordable home prices, many buyers have determined that now is a good time to buy.
How many buyers? Well let’s take a look at how single family home sales compare through the first three months of this year compared to 2008 in three of our Central Florida counties.
In Orange County the MLS reports for the time period of January 1, 2010 through March 31, 2010 that 2,511 homes were sold. This is an increase of over 30% compared to 1,930 homes that are reported as selling during the same time period for 2009.
In Osceola County the MLS reports for the time period of January 1, 2010 through March 31, 2010 that 873 homes were sold. This is an increase of nearly 11% compared to 787 homes that are reported as selling during the same time period for 2009.
In Seminole County the MLS reports for the time period of January 1, 2010 through March 31, 2010 that 691 homes were sold. This is an increase of over 30% compared to 528 homes that are reported as selling during the same time period for 2009.
The numbers above do not include townhome or condo sales.
The continued increase in home sales throughout Central Florida shows that there are excellent opportunities available for both buyers and sellers. The time may not be right for everyone and waiting seems to be the safest course. However the numbers indicate that many in 2010 have decided that they have waited long enough and are now taking advantage of the improving Central Florida real estate market in order to purchase a home or investment.
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