Reversing an eight-month slump, residential real estate sales rose 3.8 percent in Southwest Florida in August. The state picture Statewide, buyers closed on 25,070 single family homes in August, up 8.2 percent. Condo sales grew 3.3 percent to 9,484, Florida Realtors said. Homes throughout Florida traded for a median $225,000, 12.6 percent more than last year, while condos sold for $160,000, a 6.7 percent gain. The activity erased the 8 percent decline in sales in July, said Brad O’Connor, … [Read more...]
Flood Insurance Solution Takes Big Step Forward
Property owners who opt to purchase flood insurance in the private market rather than through the National Flood Insurance Program (NFIP) may do so under current rules, but they may be charged higher rates if they want to return to NFIP coverage. But there's hope for a change: H.R. 2901, the "Flood Insurance Market Parity and Modernization Act," unanimously passed the U.S. House of Representatives Thursday. It now goes to the Senate for consideration. If approved by the Senate, it then needs … [Read more...]
SW Florida Housing Market has Slowed – and That’s Good
NAPLES, Fla. – Feb. 24, 2016 – The SW Florida housing market is showing signs of slowing and local experts say that's OK. Home resales are slowing – and so are land sales for new homes and developments. "We're in the middle of a downshift in the marketplace. And it's a good thing," said Denny Grimes, president of Denny Grimes & Co. in Fort Myers. Grimes was one of three expert speakers at Market Watch 2016, sponsored by the News-Press and held at the Harborside Event Center in downtown … [Read more...]
Florida’s Real Estate Market – Housing Overview
"Florida's real estate market remained quite healthy in December," said Brad O'Connor, chief economist at Florida Realtors. "Closed sales remain strong, and prices continue to rise. "Inventory levels of single-family homes dropped to an annual low for 2015 at the end of December, to just under 100,000 active listings," he added. Statewide, single-family sales totaled 23,056 in December, up 2.9 percent over the year. Condo sales fell 1.2 percent to 9,357, according to the Florida Realtors … [Read more...]