As the the Orlando housing market continues to see home prices decline and the property the inventory thin, industry experts say it could be enough to prompt a real estate rebound.
According to property data compiled by Metrostudy, the Orlando housing market had 1,122 single-family home starts during the fourth quarter of 2011. This is a 71 percent increase from the same three-month period a year earlier when there were only 656 starts.
"While central Florida’s economy is still barely growing, the area’s lack of new home inventory and competitive pricing should continue the upward bounce in the new home market," said Metrostudy director of the Central Florida division Anthony Crocco. "The activity in 4Q11 should continue the positive momentum going into the spring buying season."
Meanwhile, the report also indicated that 1,083 single-family units were closed in the fourth quarter of last year, which is 10.5 percent higher than the amount recorded in 2010. In addition, Orlando's single-family inventory had 3,086 listings, accounting for an 8.8-month supply.