John Burns Real Estate Consulting offers a quick look at the March numbers for supply and demand in the Greater Orlando Metro area’s housing market.
For the most part news on the demand side was good, with home sales and employment growth both up monthly and year-over-year.
On the supply side of housing, single-family permit volume was up slightly for the month, but down 2 percent for the year. Multi-family permit volume, however, was up significantly for the month and the year. Listings of resale homes were virtually flat for the month and up slightly for the year. The supply of resale homes was steady for the month and year at 4.4 months supply.
| Current | Last Month | Month-Over-Month Change | Year-Over-Year Change | |
|---|---|---|---|---|
| Current Demand | ||||
| Annualized Existing Home Sales | 41,724.0 | 41,350.0 | 0.0 | 0.0 |
| Employment Growth | 46,200.0 | 40,000.0 | n/a | 0.0 |
| Unemployment Rate | 0.1 | 0.1 | -0.3 | -1.0 |
| Current Supply | ||||
| Single-Family Permit Volume | 9,805.0 | 9,780.0 | 0.0 | 0.0 |
| Multi-Family Permit Volume | 6,817.0 | 6,130.0 | 11.2 | 25.4 |
| Total Permit Volume | 16,622.0 | 15,910.0 | 0.0 | 0.1 |
| Listings Resale | 15,147.0 | 15,148.0 | 0.0 | 0.0 |
| Months of Resale Supply Estimated | 4.4 | 4.4 | 0.0 | 0.0 |
Credit: John Burns Real Estate Consulting