From the Naples News we have Laura Layden: Realtors looking for an upswing in 2007.
In the Naples area, the year ended with more than 11,000 listings, a 16-month supply of homes, on the market.
Bust!
That could increase by 1,000 or more this month, with the height of season.
Bust!
In Lee County, there were 13,330 single-family homes, and another 8,559 condominiums listed for sale on the Multiple Listing Service last week. That works out to a more than 17-month supply of single-family homes and about a three-year supply of condos on the market.
Bust!
“Homes are not worth today what they were last year, or even six or eight months ago,” he said.
Bust!
Realtors don’t expect to ever again see the kind of run-up in prices that sellers experienced in 2005.
Bust!
With the cool-down in the market, some Realtors have left their jobs for other careers or have moved to other states seeking better opportunities.
Bust!
He said 2,500 members of the Realtor Association of Greater Fort Myers and the Beach did not pay their annual dues on time. If those Realtors don’t renew, the association will lose almost 40 percent of the primary board members, he said.
Bust!
The market may not have hit bottom just yet. But the bottom might be around the corner.
Denial!
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