We can’t deny that we are living critical times and life as we knew it has definitely changed. From industry trends to ways to proceed or even work hours, it’s all changing.

This change has brought some good and some bad to different industries and the economy. And the markets suffer and get hit, Florida’s real estate stays quite strong regardless of some small setbacks.

The way our local economy is could be a reason. The fact that people from other states like New York are trying to move here could also be a reason. What matters is that we’re still in a great industry. Actually, with a taste on flexible hours since working from home is now a trend, many are looking to make teh switch or add to their income with a career in real estate.

Although the sales in April dropped 28% compared to last year, the numbers do not appear to echo the 2008 housing crisis. And as we go into phase 2 in June of reopening, many of us have seen a lot of activity.

When the housing market crashed in 2008, there was no money and it was a continuous situation that kept spiraling down. This time around, there is a sense of a “temporary crisis” and many of the unemployed are going back to work in the next weeks. Also, many of the home sales froze which made that 28% dip, but we’re seeing that buyers were just waiting “to see what was going to happen” and they are now slowly but shortly gaining interested again.

Now, what’s most interesting and that a lot of people don’t know or realize is that in times of crisis like this one, homes tend to go up in price. I know, that’s not what happened in the previous crisis, but that crisis was also a unicorn in many ways. Data shows that those homes that are selling are still closing above their previous value.

The overall median price of of Orlando homes sold in April 2020 was $263,750, 12.2% over the median price from April 2019 which was $235,000 and 4.0% above the March 2020 median price of $253,500.

We can’t really know what is going to happen but although things won’t get back to normal any time soon, there is some light at the end of the tunnel and we’re seeing some positive signs.

Maria Flores-Garcia

La Rosa Realty Kissimmee

Tel: 407- 930-3530

Cell: 407-591-2670

info@larosakissimmee.com

3032 Dyer Blvd, Kissimmee, FL 34741