Homes for sale in metro Orlando plummeted to the lowest level on record last month, and median home values ​​jumped another $10,000 in April.Homes for sale in the Orlando metro area plunged to the lowest level on record last month as median home values ​​rose another $10,000 in April, a report from the Orlando Regional Association of Realtors revealed.An already depleted inventory fell 7.8% in April to just 2,655 homes, the lowest level since ORRA began tracking in 1995. The organization estimates it would take just three weeks to sell all the homes on the market.Six months of inventory is considered a balanced market.For homebuyers like Naomi Gonzalez-Longstaff, the tight market has meant she's been house hunting since November.The Sanford manicurist said 25 home offers failed her, including a contract on an Orange City home that failed inspection.“These vendors don't care.Buyers don't care," Gonzalez-Longstaff said."They're bypassing inspection and appraisal and all these things."While the pandemic has prevented many people from selling their homes, Ken H. Johnson, a real estate economist at Florida Atlantic University, said Central Florida's reduced inventory is due more to a lack of new homes built since Greater Recession more than a decade ago."It can only temporarily affect inventory whether or not houses come on the market," Johnson said.“We are so underwater, this inventory shortage is not going to go away any time soon.”ORRA members in Orange, Seminole, Lake and Osceola counties sold 4,081 homes in April, a 4% decrease from the previous month.Orlando inventory is down 65% since April 2020.With supply shrinking and no demand slowing, the median home price rose 3.5% from $285,000 in March to $295,000 as mortgage interest rates fell below 3%.Gonzalez-Longstaff, who has been looking for a home in the $200,000 range, said rapidly rising home prices cost her several of the properties she was interested in."People are going crazy with these bidding wars," she said.“A lot of people are selling very high.“There used to be a human touch, some warmth from the seller.Now it's just: “Are you going to buy it?OK, next“.New listings increased slightly in April, indicating that inventory may be changing.In the month, more than 4,000 new homes were put on the market, 7% more than in March.Looking at 25 years of historical home price data, Johnson estimates that Orlando home values ​​are 17% above their true value.However, he points out that in 2006, the peak before the last housing crisis, Orlando home prices were more than 65% above their real value."The odds of an accident are pretty low this time," Johnson said."I think there are tough times ahead for housing, but nothing like it was 15 years ago."Johnson said he believes home prices will stabilize."There are many indications that interest rates ... will go up for the foreseeable future," Johnson said."When that happens, that's when you'll see the appreciation start to taper off."In a statement, ORRA President Natalie Arrowsmith said: “As we head into summer, more sellers are likely to consider selling their homes before the start of the new school year, which would help balance our housing market.Homes are selling faster than ever, so potential buyers need to come prepared and pre-approved with a solid offer.”Gonzalez-Longstaff said she has a contract on a house in Sanford and hopes to close this month.But she said she doesn't feel his ordeal is over."It's so emotionally draining because you never feel safe," she said."You just don't know what's going to happen."This story was published in the Orlando Sentinel by journalist Trevor Fraser.The translation was done by Jennifer A. Marcial Ocasio, reporter and editor of El Sentinel Orlando.You can contact her at jmarcial@orlandosentinel.com 407-540-4004.