[Dee2e]

From ORRA: (The local real estate board for Central Florida)

That marks 17,166 homes that have sold through the first seven months of 2006, compared with 17,241 that had been sold in the year ago period.

The increase in inventory continued its upward trend in July, with 6,862 homes listed in the Realtors' multiple listing service contributing to a total of 19,827 homes on the market.

But the Orlando area still remains one of the nation's strongest housing markets and is expected to end with its second-best year ever, behind 2005, notes Orlando Regional Realtor Association President Beverly Pindling.

"After the tremendous two years we had previously, it would be nearly impossible for 2006 to not exhibit a slip," Pindling says.

The median price of homes sold in July was $252,900, a 3.22 percent rise over July 2005's $245,000 median.

Sales of existing homes within the Orlando MSA (Lake, Orange, Osceola and Seminole counties) on the other hand are up by 11.3 percent when compared with July 2005, and year-to-date sales are up by 0.7 percent.

A total of 21,916 homes in the MSA have been sold by Realtors so far in 2006, compared with 21,760 that were sold through July 2005. When compared with July 2005, each of the four counties rebounded with an increase in sales: Orange County by 10.4 percent; Seminole, 15.8 percent; Osceola by 15.9 percent; and Lake, 3.4 percent.

"This difference in figures for July shows us that most of the home sales activity is happening right in our backyard," Pindling says. "The reason for the 26 percent drop in overall sales is the drop off in sales outside of our MSA by our membership."

This is in reference to the state drop in sales reported last week.