Lousy year for home sales in Central Florida ends on uptick - Orlando Sentinel

13.01.09

But during the four final months of last year, nearly 1,000 more homes changed hands compared with the same period in 2007. Those four consecutive months of year-over-year gains snapped a 27-month string of declines.

Some see that as a promising sign.

"It shows that, when prices get down to a certain level, there is money on the sidelines waiting to come in," said Randy I. Anderson, director of research and education at the University of Central Florida's Dr. P. Phillips School of Real Estate.

The core market's median sales price ended the year at $169,900, according to the Realtors' preliminary figures for December, down nearly 25 percent from a year earlier but up more than 2 percent from November -- the first month-to-month increase in half a year.

"With approximately 40 percent of the transactions involving foreclosures or short sales, the median price is being pulled down by homes sold at discounted prices," Orlando Realtor President

Source: Orlando Sentinel, FL

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