July 2004 monthly update on Real Estate trends and conditions in the Central Florida area.

Although the rate on this month’s Pulse shows an average of 6.31% for June, it does not reflect the new rates that we will see in the coming months due to the Feds raising the federal-funds rate by a quarter of a point yesterday. Mortgage interest rates should continue to rise throughout 2004, but only at a modest pace. The feds had not tinkered with the rates in almost four years.
 

Prior month's information

Orange & Seminole Counties* Avg. Mtg. Rate Inventory New Listings Sales Pending Back on Market Expired Withdrawn Sales Closed Avg. Days on Market June.03 5.54% 7,448 2,768 1,847 838 290 647 1,769 58 July.03 5.73% 7,267 3,531 2,598 421 325 779 2,002 60 Aug.03 6.78% 7,213 3,238 2,321 505 365 748 1,903 60 Sept.03 6.64% 7,247 3,095 2,108 305 353 731 1,859 59 Oct.03 6.29% 7,308 3,276 2,151 489 304 761 1,906 59 Nov.03 6.23% 6,973 3,266 2,424 236 269 777 2,254 60 Dec.03 5.38% 6,522 2,280 1,992 307 474 585 2,082 61 Jan.04 5.38% 6,605 3,403 2,619 306 305 682 1,512 66 Feb.04 5.45% 6,182 2,918 2,632 363 326 659 1,405 61 Mar.04 5.25% 5,634 3,444 3,387 372 268 696 2,081 59 Apr.04 6.04% 4,995 3,212 3,403 391 197 696 2,036 57 May.04 6.31% 4,650 3,322 3,348 450 162 626 2,131 53 June.04 6.31% 4,360 3,186 3,142 443 164 690 2,526 47 * Based on Hotsheet reports and have not been purged. Truer figures may be found under Housing Statistics at orlrealtor.com