NAR SENIOR ECONOMIST SPEAKS TO REALTORS IN NAPLES, FLORIDA
On Thursday, September 13, 2007 I was privileged to hear Dr. Lawrence Yun, Senior Economist and Vice President of Research from the National Association of REALTORS speak to REALTORS, agents and brokers in Naples, Florida.
Dr. Yun stated that the real estate market in Southwest Florida will start reversing itself by early 2008. However, it will not return to the peak levels that the Naples, Marco Island area experienced in recent years. The recovery will not be robust, but will be an improvement.
He stated that there is a pent-up demand accumulating by individuals to purchase real estate but the lack of confidence has dwindled due to the media's affect on people. The job growth and wealth is there but the confidence is missing.
He stated that there is a pent-up demand accumulating by individuals to purchase real estate but the lack of confidence has dwindled due to the media's affect on people. The job growth and wealth is there but the confidence is missing.
According to Dr. Yun's statistics vacation home sales have not dropped. Second home purchases are still on the rise. This is good news for the Naples, Marco Island area that is primarily a vacation and retirement destination.
With all things told, we have not been experiencing a correction in the real estate market but only a minor adjustment. As Dr. Yun stated, "What people experienced during the real estate boom was a once-in a lifetime situation".
More Naples Real Estate News You Can Use From
Carolyn A. Rzaca, Broker/Owner
Your Source for Naples Homes, Naples Condos and The Golf Course Communities of Fiddler’s Creek, Hammock Bay, Lely Resort and Treviso Bay
(239) 393-0100
No comments:
Post a Comment