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CONSUMER CONFIDENCE RETURNING TO THE MARKET
Posted by V.K. [Mel] Melhado P.A. on Saturday, September 12th, 2009 at 9:55am.This summer has seen a surge in homes sales in Collier County and it certainly bodes well for the upcoming season as well.
The Naples Area Board of Realtors (N.A.B.O.R.) has released its statistical report for the month of August and the figures are very encouraging. Total home and condo sales rose by 40% compared to the same period last year and pending sales are up by 47%, which shows that overall consumer confidence is building. Single family home sales rose by 86%, a stunning figure, while pending sales by over 106%, again compared to the same time last year.
The under $300,000 market has to date been a driving force in the market. Short sales and bank foreclosures are accounting for much of the market and the good inventory is disappearing rapidly at the price point.The two more active areas were East Naples and North Naples.
With the loming end of the first-time homebuyers tax incentive at the end of November as well as the prospect of rising interest rates in the future, we feel that there is no time like the present to be investigating property in the greater Naples Real Estate Market (paradise)!
V.K. [Mel] Melhado PA
Downing-Frye Realty, Inc.
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