If you watch or read national news reports regarding the state of the real estate market, you may be inclined to think all is still gloom and doom. In fact, a recent CNN Money article predicts that the price of homes will lose another 26%. That’s a pretty hefty drop – nearly a third, and that on top of already historic lows.

Other news reports show the opposite, that the price of residential real estate is on the upswing. Some state that market pricing is flat. Still others claim the U.S. market is now at rock bottom and can’t go anywhere else but up. Who can you believe?

The truth is that anyone can take a look at wide-reaching statistics and make a statement about them that reinforces their own beliefs – or coincides with whatever spin they want to put on them. Future projections are extremely difficult to make with any degree of accuracy. No one has a crystal ball. Another factor is locale – each region, state, and city in the country experiences fluctuations that cannot be defined by a single figure.

So what’s the truth regarding central Florida real estate? Much the same as in other areas of the country, entry-level housing is the hottest ticket. For the previous quarter, Orlando properties sold for a median price of $117,000 and the average listing price was just under $300,000 in October (Trulia). Although the price per square foot is down just over 30%, sales have increased year over year by nearly 70%. There are fewer homes for sale than there are foreclosures, or impending foreclosures.

This means inventory is shrinking and the price for Orlando FL real estate just might begin to increase slightly. Of course, I don’t have a crystal ball so I can’t say for sure. But I do advise potential buyers who are waiting for national news forecasts to come true to pay less attention to widespread statistics and focus on the Orlando neighborhoods they want to live in.