The Orlando metro area like many other Florida cities with already high foreclosure rates may see increases by another 14 or 15% in 2009. The combination of housing price floors that can't be found and an expected increase in job loss is further contributing to an already bad situation. The chart below shows the decline in median home prices in Orlando over the last year.
Click on the image below for a larger view.
When will this end? We will provide an update in a couple of months to see if these projections hold true.