EDITOR’S CHAIR

EDITOR’S

CHAIR

Pine Hills home prices on the the rise as inventory shrinks

Historically low mortgage interest rates along with a low inventory of new and existing homes for sale are pushing down sales while increasing Pine Hills housing prices. According to the Orlando Regional Realtor Association (ORRA), there are only 132 properties for sale in 32808 and 32818 combined and the inventory is not much greater throughout Central florida, judging by the steady march upward of sale prices. ORRA President Reese Stewart said it is "...a testament to buyer demand for the affordably priced homes that flourish in the area." As of August monthend, there was little more than six weeks' supply of homes in Pine Hills. The median price of all Pine Hills homes sold in August was $187,000, which was 10% above the August 2019 median price. Thinking of selling? Better get on with it. If you wait for the top, you will already be too late. Thinking of buying? Patience may be your friend, but given the Federal Reserve’s interest rate policy, you might have a long wait. It’s a double-edged sword.

Caveat emptor; caveat venditor!

(Let the buyer beware;let the seller beware!)

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