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Guess what?  They are buying!

In the latest Credit Suisse market study from last month for the Lee County

Buyer traffic increased in July and remained above agents’ expectations (a neutral reading of 50), as our traffic index increased to 69, up from 62 in June. It seems that RSW should have seen plenty of traffic, given all of the investor activity in the market. Agents indicated that about half of all buyers are investors with some agents saying that 80-100% of their business is coming from investors. One agent described the feeding frenzy on foreclosures by noting that “prices are as low as they can go…Investors are everywhere” .A common theme was also the view that buyers are active as they have confidence that prices have bottomed.

Rising home prices, falling inventory levels. Agents noted increasing prices in July, as investors bid up the prices of foreclosures. This is the first increase we have seen in the market in many years and we expect that many investors will be further encouraged by the increasing prices. Our home price index measured 57 in July, up from 50 in June, with any reading above 50 pointing to rising prices. The intense investor demand led to another decrease in inventory with our home listings index coming in at 71, down from 92 in June, but with anything above 50 pointing to falling inventory."

With news like this and the stock markets climb, the signs are that for all who have been sitting on the sidelines it is time to get in!  We stand ready to help you do that through our great researching and 24 years local market experience.  Contact us today 800-551-2223 or jerry@765LIST.com

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