FORT MYERS, Fla.
The National Association of Realtors is reporting a summer slow down in pending home sales across the country. Does this apply to the SouthWest Florida real estate market?
Here to give us some insight into this is WINK's real estate expert Denny Grimes.
I. Slowing sales is more a function of lower inventory verses lower demand
II. SW Florida's market is strong, as you can see from this slide
a. Notice two keep numbers: new listings and pending sales
b. A growing inventory is a sign of the beginning of a market correction, but as you can see, more homes are exiting the market than coming on the market
i.We should see a stronger than normal summer season because the buyers in our feeder
markets don't want to spend another winter like last winter, so they are shopping now
from the internet and they are coming down to buy (example of Meredith's buyer)
III. Refer back to the slide: look at the number of price changes. That shows the market is not as strong
as sellers initially thought, so they are having to correct their price.
a. Many more price decreases than price increases
If you have a question that you would like Denny to answer, email him at