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According to a recent report from John Burns Real Estate Consulting, an Irvine, Calif.-based national market research company, the Naples housing market is firing on all cylinders this year, with strong demand from retirees, second-home buyers, and snowbirds. They have been pushing prices up 0.5 percent a month, according to the firm’s proprietary Burns Home Value Index.
Here are some indicators:
- Prices continue to rise approximately 0.5% per month, according to the Burns Home Value Index™.
- Incentives/discounts are minimal, based on my tour of almost every community in the market.
- Employment growth of 7.7% year over year in December outpaces all other major MSAs in the country
- Minimal resale inventory is on the market, as months of supply declined to 4.0 months from 6.4 months one year ago.
Additionally, Southwest Florida International Airport deplanements rose 3% year over year in 2013—the largest increase since 2007. The Naples Daily news reported that they see a strong correlation between airport traffic and home prices in Naples.
To see the full article by John Burns Real Estate Consulting, click HERE!
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