The Orlando Regional Realtor Association just released their statistics for the Orlando real estate market through the month of October 2010 and the conditions clearly point to a buyer’s market with plenty of inventory with just above 15,000 homes for sale. Sales are down month to month by 20%, but 26% higher than this time in 2009. New home sales are down 10% over the past year.
Still the dominant force in the marketplace is distressed sales which include short sales and bank owned properties. 67% of sales fall into this category.