Orlando Real Estate Market Trends 2024: New Home Sales Plummet, Builders Offer Huge Incentives!

Welcome to the Orlando Real Estate Buzz! 🌟 Today, we dive deep into the current trends shaking up the Orlando real estate market. Join Brenden Rendo from The Homes in Orlando Team and our special guest, Jim King from Appli Home Loans, as we explore:

🔹 New Home Sales Decline: A significant drop in new home sales and what it means for the market.

🔹 Builder Incentives: Unbelievable incentives offered by builders to move inventory, including interest rate buy-downs and closing cost coverage.

🔹 Housing Supply Surge: A surge in housing supply and its implications on the market.

🔹 Economic Indicators: Insights into unemployment numbers and their impact on real estate.

🔹 Market Predictions: What to expect as we head into the fall and election season.

🔹 Overvalued Markets: Analysis of the most overvalued markets, with a focus on Orlando's positioning.

🔹 Buyer Opportunities: How buyers can take advantage of the current market conditions.

📈 Stay informed about the latest real estate trends and get expert advice on navigating the market. Don't miss out on this valuable discussion!

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📌 Key Takeaways:

- New home sales are down by 15.2% compared to last year.

- Builders are offering up to $47,000 in incentives to attract buyers.

- Current housing supply in Orlando stands at a 9.3-month supply rate.

- Unemployment numbers remain flat, with little impact on mortgage rates.

- Orlando’s housing market shows signs of correction, with prices starting to adjust.

📅 Join us every Thursday at 10:00 AM for the latest insights and trends in the Orlando real estate market.