BUYING SEASON ISN'T JUST FOR SPRING ANYMORE

By Theresa Swanson

According to industry marketing pundits, spring signals the start of the homebuying season. Obviously, these pundits don’t live in Central Florida.

Yes, in the spring builders find themselves in a mad rush to get their newest models in their newest communities ready to unveil at such events as the Parade of Homes.  

But the start of selling season? Not around here. Home sales have continued to outpace the nation at a brisk pace, with a year-over-year increase of 20 percent in March 2015 versus March 2014. From January to February of this year, median home prices increased 6.45 percent — which continues to bode well for the industry and the economy.

One of my favorite things to do each year is to chauffeur out-of-area industry professionals brought in to judge the Greater Orlando Builders Association (GOBA) Parade of Homes. The judges evaluate entries and determine who will win not only individual categories, but also the coveted Grand Awards.

Over the past seven years, parade entries have been mostly comprised of builders’ model homes, and a few homes that have been remodeled for the current owners. Magnificent custom homes built on speculation had all but vanished from existence, until this year. 

And what a comeback they’ve made. As I drove to many of these homes, I noticed something I’d not seen in years: for-sale signs. 

Now, some folks may not think that’s a big deal — but it is. It’s not just an indicator that our region is making a comeback. It also means financial institutions see continued economic growth and expansion — enough so that they’re putting their money on the table.  

So, to buyers and especially to lenders who are loosening their purse strings: “Welcome back! It’s nice to have you back in the game.”