We reported in this blog recently about the favorable Naples Florida real estate climate – rising prices, shrinking inventories and a nice up tick in transaction volumes. It looks like Naples is following a national trend.
Florida Realtor reported yesterday “The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February …’First quarter sales closings were the highest first quarter sales in five years,’ says Lawrence Yun, NAR chief economist. “
There will be two things to watch carefully here locally during the expansion – volumes and inventory. You need volume to move a market. If prices are up and inventory is down great, but if no one is buying and selling look out. So far volumes are up 14% this year in Naples but we will see what happens as we enter the season.
And what about inventory? A market needs product and we are approaching multi-year lows at our sub nine month levels. Relief is on the way with new commercial projects and a rumored increase in foreclosure volumes. We will be attending foreclosure auctions to keep you appraised of the local market. If supply decrease too far and prices spike ti could slow the rally – but so far so good.
For now celebrate a return to healthier real estate markets. This market will help homeowners and it will surely create more jobs.
All the best this Friday.
No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
Some of the data relating to real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA REALTOR Coldwell Banker 5th Avenue South Mobile: 239.595.3921 Email: email@example.com NaplesBestAddresses.com Facebook: NaplesBestAddresses Twitter @mcgoebel Naples Best Addresseses – Where The Best Address in Naples Real Estate Is Yours