The latest monthly data shows total existing-home sales1 rose 5.0 percent to a seasonally adjusted annual rate of 4.61 million in December from a downwardly revised 4.39 million in November, and are 3.6 percent higher than the 4.45 million-unit level in December 2010. According to the latest reports released by NAR. The estimates are based on completed transactions from multiple listing services that include single-family homes, townhomes, condominiums and co-ops.
Lawrence Yun, NAR chief economist, said these are early signs of what may be a sustained recovery. “The pattern of home sales in recent months demonstrates a market in recovery,” he said. “Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market.”
Locally in Lee and Collier County, there have been reports from all over about the desired real estate opportunities in Fort Myers, Cape Coral, Lehigh Acres and Naples.
Recently Yahoo Real Estate, the number one real estate website, put the Fort Myers Cape Coral market as the number one area with the ” Highest Rising Home Prices” . And GlobeSt.Com ranked the area number 5 of “Best Markets to Invest in Rental Property”.
Source :National Association of Realtors
Real Estate sales numbers for 2011 end on a positive note