The housing market in Southwest Florida has been HOT for the past three years, and now it’s about to get BLISTERING. According to a survey done by the Local Market Monitor, they predict the Naples-Marco Island area will have the highest cumulative gain in one-to-four family home prices over the next three years.
The real estate research firm forecasts this gain after looking at recent data pointing to a growth in jobs, a shortage of both new and resale homes, and the small number of foreclosed homes on the market.
They stated, “There has been a surge in demand of people who aren’t just visiting but want to live full-time in Naples.”
As for renting, the Local Market Monitor’s report noted that with average rents of $1,185, the rent-to-price ratio in Naples-Marco Island was 4.2 percent, the lowest in Florida.
Here in Florida it’s good to know that our homes are definitely worth something while the value is growing!
