Cape Coral / Fort Myers Recovery

08/19/2013

CAPE CORAL/FORT MYERS RECOVERY AMONG NATION’S BEST

From Gulf Shore Business Daily -
The Cape Coral/Fort Myers market’s real estate recovery ranks second in the nation, thanks to strong home price increases and sharp decreases in foreclosure activity, according to a Housing Market Recovery Index report released today by RealtyTrac (www.realtytrac.com). The market is second on the list in spite of an above-average percentage of underwater homeowners and distressed sales. The index was calculated based on seven factors: unemployment rate, underwater loans percentage, foreclosure activity percent change from peak, distressed sales percent of total sales, institutional investors share of total sales, cash purchases share of total sales and median home price percent change from bottom. The seven factors were indexed for each market with national averages as a baseline. Cape Coral/Fort Myers trailed only Rochester, N.Y. and was the only Florida market in the top 20.

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