The most recent real estate market numbers show a significant drop in the number of sales and an all time high for inventory. As the numbers stand right now, we currently have a 19 month supply of homes on the market.
The tightening of numerous mortgage companies on their lending requirements will shrink the pool of buyers even more in the coming months. Many of the foreclosures in Orlando are supposed to take place some time in September which should drive the prices for the overall market down for a period. Things do not look great for the rest of 2007 for real estate.