The Orlando real estate market has gone from crawling to running its way out of the country’s most recent “Great Recession” which happened back in 2008. As a matter of fact, Orlando FL was ranked #92 in the nation for cities in the US with the fastest recovery time from the devastating market crash that affected the whole country. This is according to a survey conducted by mortgage market tracker HSH.com among 100 cities with the fastest home price recovery since the crash.
Top realtors in Orlando believe this to be a good thing. As opposed to massive property price surges that we saw back in 2004-2006, it’s different this time around. We’re now seeing a more methodical, sustainable, and realistic growth in the housing market. With a steady flow of new jobs being created and continued economic growth, Orlando is one of the country’s most popular places to live, especially for young families just starting out in the workplace.
Some people think that Orlando, much like the rest of the country is headed for another huge real estate market collapse. However, most experienced real estate professionals will tell you that what we’re seeing now is simply the real estate market returning to its natural state. If you go back and remove the 3 years of craziness we experienced between 2005- 2008, then you’ll see that the market is right where it should be right now.
We’ll probably never see that kind of unrealistic optimism again or at least for a very long time,… which is a good thing. Orlando has come a long way in being able to offer higher-paying jobs in the technology and medical fields but the area is still driven mostly by jobs in the hospitality industry.
