The Orlando Regional Realtor Association released their figures as of April 2011 and the big story is the dwindling inventory.
The number of homes on the market in Orlando has declined 9 straight months and currently stands at 11,480 which represents a drop of 27% when compared to April 2010.
Coming from a person who searches the MLS on a daily basis, there’s definitely a noticeable drop in the number of homes available yet sales are still brisk and April 2011 saw 2,388 home sales closing.
The inventory is less than 5 months folks. That’s a far cry from the 24 months of inventory we’ve been having for the past several years.
We’ll see what unfolds, but a decreasing supply is healthy for the market.