Report Shows Strong Pending Sales
NAPLES, Fla.-February 18, 2011- 2011 is heating up to be a strong year, according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).
Overall pending sales increased 36 percent to 1,101 contracts in January 2011 compared to 810 contracts in January 2010.
According to Phil Wood, President of John R. Wood REALTORS®, “The strong number of pending sales in January is due to the renewed level of confidence in the economy, which did not exist last year. Property showings are up significantly in February, as potential buyers are ready to get off the fence and make a purchase.”
Dr. Shelton Weeks, Lucas Professor of Real Estate and Director of the Lucas Institute for Real Estate Development & Finance at Florida Gulf Coast University agrees, “It looks like you are experiencing the wealth effect. Buyers are looking at their portfolios and feel wealthier than last year. They feel more confident which increases the probability that they will buy a home right now
Click here for all Statistics: http://nabor.com/zzdwnlds/news/Jan_2011_Statistics.pdf