Foreclosure starts decline
35% throughout Orlando MSA
STATS SHOTS
Foreclosures sales
in Orlando drop 49%
All four counties within the Orlando
MSA reported year-over-year
decreases in foreclosure starts in
April, according to ATTOM Data
Solutions. The MSA as a whole
experienced a 35 percent increase
in foreclosure starts compared to
last year and 8 percent fewer starts
compared to last month. Nationwide,
there were 17 percent less foreclosures
starts compared to April 2017 and 14 percent
less compared to March 2018.
April 2018 Foreclosures YoY MoM
Lake 63 -17% -16%
Orange 224 -46% -22%
Osceola 72 -31% -16%
Seminole 125 -17% +64%
While the ATTOM data (see graphic, left) reflects
foreclosure starts, ORRA’s data tracks the completed
sales of foreclosures that were listed in our local
MLS by REALTOR® members. The association’s April
housing market report shows that 96 foreclosures
accounted for 3 percent of all sales and a decrease
of 49 percent compared to April 2017.
Foreclosure Activity
April 2018 vs April 2017
Sales f49% (96)
Median Price g15% ($167,500)
Inventory f43% (170)
Orlando plays to
the wants of gamers
Gaming is serious business! Orlando is
the nation’s #2 city for gamers according
to a study by WalletHub that shows the
industry is worth more than $100 billion.
The study looked at 20 key indicators of each city’s
gamer-friendliness, such as average Internet speed
and the number of video-game stores per capita
along with gamer and developer
opportunities. Related tidbit:
The Princeton Review deemed
UCF’s undergrad game design
program the nation’s best in
2016 and the graduate program
number three in 2018.
Game On, Orlando! Rank
Overall 2
Gaming Environment 2
Internet Quality and Coverage 54
Gamer/Developer Opportunities 4
Millennials slow new inventory
by rejecting move-up tradition
The 2018 Home Buyer and Seller Generational Trends Report from NAR reveals
only 14 percent of the Millennials and Gen Yers (37 years and younger) who
purchased their first house in 2017 anticipate living in their new home for
three to five years. Many more plan to stay put, which defies the traditional
homebuying trajectory and places additional pressure on inventory turnover.
First-time buyers made up 34 percent of all homebuyers in 2018 and Millennials
accounted for 67 percent of those, so economists predict that existing
homes in the affordability price ranges are set to become an even scarcer
commodity in the future.
#2
26%
millennial buyers plan to stay in
their new home for 16+ years
16%
millennial buyers plan to stay in
their new home for eight to 10 years
orlandorealtors.org 5
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