Here’s some news to help beat the post-July 4 holiday blues: Orlando-area home prices increased by 6.9 percent in May compared with May 2015, according to a new report by CoreLogic.
That increase was better than the nationwide year-over-year average, which saw an increase of 5.9 percent.
Orlando-area home prices also saw a month-over-month growth, increasing by 1 percent over April.
Statewide, Florida ranked No. 6 in year-over-year home price increase at 7.3 percent. Oregon and Washington came in at No. 1 and 2 at 11 percent and 10.1 percent, respectively.
The increase is also part of an upward trend: The CoreLogic Home Price Index Forecast predicts that home prices will increase nationally by 5.3 percent on a year-over-year basis from May 2016 to May 2017. This, combined with other positive trends such as the recent drop in foreclosure rates, are signs of Central Florida’s steadily improving real estate market.