Tuesday, April 22, 2014

The "There Is No Inflation" Report [$2 million+ Homes In Naples Florida Edition]

By Chris Rossini

Helicopter money is dropping on Southwest Florida (again).

News-Press reports:
Sales of multimillion dollar homes in Naples skyrocketed in the first quarter of 2014, according a report released Thursday from the Greater Naples Board of Realtors.

From January until the end of March, 48 homes valued at $2 million or more were sold in Naples, an 83 percent increase over the first quarter of 2013, according to the report. (emphasis added)

Chris Rossini is on Twitter

1 comment:

  1. The 83 percent refers to the number of homes sold valued at over 2 million. Not in the price of the homes. There were 26 homes sold valued at over 2 or more in the first quarter of 2013 .

    The area had a huge housing bubble. According to the home price index, home prices rose 15% from Q4 2011 to Q4 to 2013 in that area. Prices are currently same level as Q4 2003. Prior to the housing bubble, homes rose 6% over a 2 year period in that area.

    All-Transactions House Price Index for Naples-Immokalee-Marco Island, FL (MSA)