The U.F. Bergstrom Center for Real Estate Studies reported on March 9th that single family home prices have leveled out. They conducted a survey of 318 industry experts, including market analysts, attorneys, financial advisors and industry executives. Wayne Archer, Director of the center is quoted as saying: "If you're thinking of buying a house, there's probably not much to be gained by holding out at this point. It doesn't look like prices are going to fall anymore."
Seems that buyers are agreeing with him. In February 2007, there were 2,387 new contracts in Orange and Seminole County. The lowest dip in the last year was December 2006, with 2,012 contracts.
The average mortgage rate for February 2006 was 5.92% for our area, compared to 6.07% for the same time last year.
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