Economy in the US remains resilient despite inflation concerns. Total employment increased by 390,000 in May and unemployment rate held at historically low 3.6%. We should see additional interest rate hikes this summer in order to put brakes on inflation. Multiple factors continue to put pressure on housing inventory in Florida due to high demand of housing from renters and potential Buyers alike underlined by millennial family formation. Due to high rising costs of materials, construction is also falling short of demand hindered by shortages of material and labor. It should interesting months ahead since demand for housing remained strong despite current rate hikes. Below is the most recent data pertinent to Orlando market.
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