Orlando Real Estate - If You’ve Been Waiting For House Prices To Rebound Before Trying To Sell, You’ll Probably Have To Wait Until at Least 2014!

University of Central Florida economist Sean Snaith reports that employment levels in Florida won’t return to pre-recession conditions until 2014.

In addition, Florida may be last in line to recover from the recession due to our severe housing downturn and 11% unemployment rate.

As a result, homeowners shouldn’t expect real estate prices to rebound anytime soon.

Orange & Seminole Counties

Single-Family Homes

Average Price per Square Foot

Source: Trendgraphix, Inc. and My Florida Regional Multiple Listing Service.

Prices in the Greater Orlando FL market have leveled out since March of 2009. While this may feel positive, especially after the 40-50% price declines over the last 3 years, recent trends only mean an end to the agonizing pain every Orlando homeowner has been experiencing since 2007.

The general consensus is that house prices in Orlando are not going to make a V-recovery or a U-recovery, and will most likely stay tepid for months if not years to come before once again beginning to appreciate at modest rates.

So if you’re one of those many, many homeowners who have been waiting for home prices to recover, you’ll probably have to wait a very long time.