Orlando home prices, sales down

Median prices of existing homes in Orange and Seminole Counties dropped 9 percent from December to January, a month of mixed indicators for a recovering housing market.

The midpoint price of a house that sold during January was $108,000, down from $119,000 a month earlier, according to a report released Thursday by the Orlando Regional Realtor Association. The chairman of the group, Stephen Baker, broker with Re/Max Central Realty, said the local area has experienced a monthly price drop during January for the last five years.

January's biggest drop for the two Central Florida counties was sales — 1,677. That was down 24 percent from a month earlier and 18 percent from a year earlier.

Read more at the Orlando Sentinel.