Central Florida's home supply sees highest level since 2019!

There are more homes coming onto the market in Central Florida, according to the latest report from the Orlando Regional Realtor Association.

November's data shows that for the first time since January 2019, there is more than a four-month supply of homes.

Rose Kemp, the president-elect of the association, said the increase in inventory and interest rates starting to lower will help create a stable housing market in 2024.

"It gives buyers more options of homes to pick from, and we haven't seen that in a long time from when the COVID lockdown happened. It's been a real struggle for many buyers over the past few years to secure not just a home, but a home that they're really excited about," she said. "So for us to see about a four-month inventory and knowing that builders are still out there building, I think that's really good news for the consumer."

While property sales fell nearly 18% from October to November, Kemp said that drop isn't out of the ordinary to see during the holiday season.

Carrie Shawfield, a broker and owner of Shawfield Realty Group, said she is also optimistic about the market in the new year.

"I have several sellers in the pipeline that are ready to list in January. They're getting ready and supposedly there aren't going to be any more interest rate hikes until the election, so that's promising. Buyers feel more secure," she said.

New Home For SalePhoto byStock Image