Orlando Real Estate Market Strengthens After Katrina Exodus

The residential and commercial Orlando real estate market has been strong for some time now, and while many were expecting it to cool, the tragedy brought on by Hurricane Katrina has only made it stronger.

When the storm hit, families packed their bags and hit the road. Wherever they stopped is where they are today, and as people have begun to realize that they may not be returning home very soon they have started investing in Orlando real estate.

Whether they’ve decided to stay for the short term and rent or for the long term and buy, evacuees are contributing greatly to the growth of the Orlando real estate market. Prices are reportedly increasing between 10 and 50 percent, and the number of bidding wars is increasing. Even Orlando real estate investors want a piece of the action, as they are buying up property and then renting it to evacuees.