As expected, mortgage interest rates have begun to rise (although don’t expect any type of spike anytime soon). Rates have ranged from 5.5 to 8% for more than a decade, which along with the power of the Internet and the subsequent streamlining of costs, have created record year after record year for home sales. If we make it less intimidating and more fun, such as the allowance of customers to search the Internet at their leisure for homes and services, who wouldn’t buy a home?

Orange & Seminole Counties*
Avg. Mtg. Rate Inventory New
Listings
Sales
Pending
Back on Market Expired Withdrawn
Sales
Closed
Avg. Days on Market
May.03
5.85%
7,610
3,293
2,412
411
326
728
1,706
62
June.03
5.54%
7,448
2,768
1,847
838
290
647
1,769
58
July.03
5.73%
7,267
3,531
2,598
421
325
779
2,002
60
Aug.03
6.78%
7,213
3,238
2,321
505
365
748
1,903
60
Sept.03
6.64%
7,247
3,095
2,108
305
353
731
1,859
59
Oct.03
6.29%
7,308
3,276
2,151
489
304
761
1,906
59
Nov.03
6.23%
6,973
3,266
2,424
236
269
777
2,254
60
Dec.03
5.38%
6,522
2,280
1,992
307
474
585
2,082
61
Jan.04
5.38%
6,605
3,403
2,619
306
305
682
1,512
66
Feb.04
5.45%
6,182
2,918
2,632
363
326
659
1,405
61
Mar.04
5.25%
5,634
3,444
3,387
372
268
696
2,081
59
Apr.04
6.04%
4,995
3,212
3,403
391
197
696
2,036
57
May.04
6.31%
4,650
3,322
3,348
450
162
626
2,131
53
* Based on Hotsheet reports and have not been purged. Truer figures may be found under Housing Statistics at orlrealtor.com
Membership May 2004 May 2003 Unemployment Rate Orlando MSA
ORRA 7,531 6,034 April 2004 4.2%
CFCRES 299 330 April 2003 5.0%
Affiliates 487 484
Applicants 345 195

Comments or suggestions? Contact Mike or Kevin.