The Orlando MSA has landed the nation's #5 ranking for areas with the highest share of homeowners predicted to move in the second quarter of 2018, finds a new study by ATTOM Data Solutions.
The Pre-Mover Housing Index uses data collected from purchase loan applications on residential real estate transactions. It is based on the ratio of homes with a "pre-mover" flag during a quarter to total single-family homes and condos in a given geography, indexed off the national average. An index above 100 is above the national average and indicates an above-average ratio of homes that will likely be sold in the next 90 days in a given market.
"The pre-mover index provides insight into which markets are poised to see a high percentage of homeowners moving this spring and which markets are likely to see a high percentage of homeowners staying put," says Daren Blomquist, senior vice president at ATTOM Data Solutions. "Markets with a high pre-mover index tend to be in areas where homes are still somewhat reasonably priced and have a growing job market, allowing for greater upward mobility. Markets with a low pre-mover index tend to be in areas with a struggling job market or with home prices that are out of reach for the average wage earner."
The average value of homes sought by pre-movers in the top 10 counties with the highest pre-mover index was $269,766 while the average value of homes sought by pre-movers in the top 10 counties with the lowest pre-mover index was $404,621. The average price of homes sold in Osceola County (#5 on the list of top 10 counties) in the first quarter of 2018 was $238,357, compared to Orange County's $298,890 and Seminole County's $267,126.