Home values, sales in Orlando on the rise, according to new report

ORLANDO, Fla. —

Orlando saw a spike in housing sales in February. And home values went up too, according to the latest report from the Orlando Regional Realtor Association.

While sales this past February were 30% lower than the booming housing market the year before, sales were up nearly 34% from January to February. The spike comes just one month after the Orlando housing market hit its lowest point in sales since January 2009.

“Now is a good time to buy,” said realtor Emma Reichert.

Reichert explained the increase in sales.

“For several reasons: One is it’s still affordable, more affordable in Central Florida to own than rent. We’re at a tipping point right now,” she said.

Reichert said another reason for increased sales is because the Federal Housing Administration loan limit has been increased to $472,000.

“The feds really have kind of kept up with home values,” she said. “That’s a significant amount of money to buy a home with especially in Central Florida.”

Article on WESH 2