According to Florida Realtors Chief Economist Dr. Brad O’Connor:
By the end of the month, the statewide inventory of on-market single-family homes was down 10.5% compared to a year ago, while the number of listed condos and townhouses was down just over 7% …” “These declines were not driven by market conditions in any particular part of the state, either. Single-family inventory was down year-over-year in all but two of Florida’s 22 metro areas, while condo and townhouse inventory declined to varying degrees in all but three of these areas … The main takeaway is that we had a one-year reprieve from a worsening inventory shortage, but that reprieve is now over. The underlying fundamentals of the shortage – insufficient new construction and a lack of listing activity from existing homeowners – are still with us and will be for some time to come.”
To see Naples Gulf Access housing activity statistics, go to Florida Realtors’ Statistics and Research section on floridarealtors.org.