More problems ahead for Orlando’s housing market
Florida Housing Crash, Real Estate May 28th, 2008
This from the Orlando Sentinel:
Hope dims for a turnaround in Orlando-area housing, experts find
A closely watched index of housing values released Thursday showed that the Orlando area’s stock of existing homes lost more ground during the first quarter of 2008.
The Metro Orlando index, based on data from the Office of Federal Housing Enterprise Oversight, fell another 3.3 percent — the fourth straight quarterly loss for local home values and the steepest quarter-to-quarter drop yet.
“The slight glimmer of hope in the last report is no longer there,” University of Central Florida finance professor Stanley D. Smith said in his analysis of the federal data.
During the fourth quarter, the rate of decline in local housing values appeared to be slowing, but the latest survey shows the slide picked up speed once again for Orlando, as well as for the Brevard County and Volusia County metro areas and the state of Florida overall.
