Posted on Saturday, December 03, 2011
Economic cycles are hard to fathom but they are out there none the less. Could it be we are through the worst of the Naples real estate correction and are now in full recovery? It sure feels like it.
First, prices are up. We saw in the September data and now the October data trailing twelve month prices are up. Secondly inventory, or supply, is down – we just saw Olde Naples real estate inventory reach the one year level – great stuff – and we are not yet in high season. Feels pretty good.
Adding to the picture is the recent report in the Wall Street Journal that homes are “affordable” again. According to WSJ “(Nov. 30, 2011) – The monthly cost of owning a home is more affordable now than in the past 15 years, and is less expensive than renting in numerous cities, … . Low home prices mixed with low mortgage rates – hovering at 4 percent or lower – create an appealing buyer’s market, analysts say.”
Ok, rising prices, shorter supply and affordability all three weeks before high season. These trends point to a solid near term future in Naples real estate – we will see.
Please let us know your thoughts.
Mark and Nan
No legal or investment advice or suggestions are being given in this Blog. Actual real estate price and sales results are subject to market forces and are not completely predictable. Please consult a lawyer or investment advisor for such legal and investment advice. The writings of this Blog are intended for the sole use of our clients.
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