Home Foreclosures in Orlando to Continue Depressing Prices
Home foreclosures in Orlando are predicted to pull down home prices by 21 percent year-over-year in the July-September quarter. The price median for existing homes in January this year dropped by more than 30 percent from January 2009 to $103,000.
Home foreclosures in Orlando are expected to continue depressing home prices sharply, according to market analyst Fiserv Inc.
Because of various negative factors playing in the Orlando market, house prices in the area are expected to plunge further year-over-year by 21 percent through the July-September quarter this year and then start to rise by 1.5 percent over the following four quarters.