Favorable conditions in Orlando real estate
There are exciting things going on in Orlando today that make the metro a great place for Offerpad to be present in. According to John Burns Real Estate Consulting, the area is seeing favorable employment, income, and household growth. This could mean more real estate moves and consumer demand as they look to buy and sell.
Growing employment in Orlando
The Orlando metro is seeing more jobs and more people moving into the area to fill them. Employment growth year-over-year has seen a 3.9% bump. Now there are more high wage jobs coming to Orlando from big employers like Lockheed Martin, Northrop Grumman, and DRS Systems. New contracts with branches of the military signed last month are fueling growth and demanding increased staffing. Private space programs including SpaceX and FireFly are also expanding and calling for more workers.
More Orlando based jobs and income
In Orlando, professional and business services have also expanded. Employment in this sector has blown up by 21,700 positions over the past year, a 9.7% year-over-year change. Some of the top employers in the area include Walt Disney World, Universal Orlando, and Orlando International Airport. They employ 74k, 21k, and 18k locals to the area. In addition, the increase in jobs is making more higher wage jobs available and median year-over-year household income growth is up 4.7%. Also, unemployment decreased by 0.7% since this time last year.
Increased number of Orlando households
Another noticeable change in Orlando real estate is household growth. For about the past 10 years, the household count in the surrounding metro areas has steadily risen – over the past year, it’s grown by 26,300. This increase represents a 2.7% annual growth. As the number of households grows, families and Orlando neighborhoods may find it advantageous to make use of Offerpad’s efficient home selling and buying processes designed to simplify home transactions.
Helping families sell and buy homes in Orlando with ease
Offerpad’s first 2.5 years in Orlando have been very fulfilling for our team and we’ve enjoyed serving our neighbors that makeup people we’ve within its community. We’ve worked together with our Orlando neighbors to simplify the big life changes of buying and selling a home in Orlando. We hope to continue the great times in Central Florida. With such positive real estate trends in the area, we’re happy to help families have the best experience possible in buying and selling homes in Orlando in the years ahead.
Support our mission to help our neighbors move freely and join our growing team in Orlando — check out our latest job openings in the Offerpad Careers section.