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
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 .
ReplyDeleteThe 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)
http://www.research.stlouisfed.org/fred2/graph/?id=ATNHPIUS34940Q