Naples Real Estate News - 06/19/07
HOUSING MARKET - Florida’s housing market, thought to be stabilizing earlier this year, deteriorated in the latest quarterly UF survey, a situation likely brought on by uneasiness about lending practices, insurance rates and the state’s property tax structure, according to UF analysts. Unforeseen circumstances sometimes cause the market not to improve as well as improve. The "sub-prime" mortgage market did have a negative on the Florida real estate market. As well as the mortgage increases over the past few weeks.
This can be seen in the Naples real estate market by the following statistics 2,448 homes went under contract in 2007, compared to 2,651 in 2006 from January to May.
Also, the Bonita Springs real estate market shows the following statistics 766 homes went under contract between Jan. 1 and May 31 this year. That compared to 721 last year, down nearly 6 percent.
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