Cape Coral Florida's Real Estate Guide

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According to the National Association of Realtors, existing home sales are up by 3.6% in June, making it the third month in a row that sales have been on the rise. For many economists, this points towards stabilization in the housing market bringing us one step closer to overall economic recovery.

Banks and mortgage companies-even Fannie Mae and Freddie Mac-are helping to stem the flood of foreclosures into the market by releasing them for sale on a measured basis. Thus far this practice has prevented a steep rise in existing home inventories across the country which would harm many already fragile markets.

Sales of homes under $250K are on the rise as people take advantage of low interest rates and home prices. However, sales of homes valued at $1M or more are down, partially due to the virtual non-existence of a jumbo home loan market. Sales of these luxury homes is expected to rise as more banks make these types of loans available to buyers.

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