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Naples single-family pending home sales trend
Make no mistake, people want to buy Naples and the surrounding Bonita Springs and Estero area. The pending home sales trends indicates how many home are under contract waiting to close. True to form, the actual closed sales track it fairly well as one might expect.
In October, however, the closed sales activity did not. The economy, the stock market, the mortgage/banking debacle, and the pending elections all appear to have stalled a few recently. This is a common phenomena during times of uncertainty - do nothing.
I'm confident that after the elections and with the stock market appearing to stabilze somewhat, that we will see the closed sales activity ramp up in concert with the pending sales.
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