ORLANDO, Fla. — The real estate market in Central Florida is seeing massive demand, and there aren’t enough homes to meet it.
That’s having a ripple effect on potential buyers and renters.
Real-estate experts say buyers are often having to compete with others for desirable properties.
It makes it much more difficult for first-time buyers, and even puts more demand on the rental market, driving up prices for both renters and buyers.
After the Great Recession, home builders stopped building at the rate they once did. Now, there is roughly a 4 million-home deficit nationwide.
In Central Florida, a healthy supply of 10,000 homes on the market is now down to just over 4,200.
For sellers, it’s a good problem. But for buyers, there’s competition. And it’s harder for them to get into a home they want.
Cox Media Group