Home Growth Forecasted for Fort Myers in 2019

During the real estate recession of the mid-2000s, many cities saw their real estate values plunge. Fort Myers was no exception. As the economy started to recover, Fort Myers is growing at some of the fastest rates in the US. Despite years of recession, the Fort Myers real estate industry recovered and is now among the strongest and hottest property markets in the past few decades.

Before the recession, flipping houses was an isolated profession. Only a select few chose to invest in real estate flipping. However, flipping houses exploded in popularity as the market started to recover from the recession. Show like “Flipping Boston” and “Flip or Flop” contributed to its popularity. The real estate flipping trend caught on in Fort Myers, and it is now considered a perfect location for investing in real estate. Even though housing prices continue to increase due to popularity, Fort Myers real estate continues to be affordable. Here's a recent press release they published.

The first six months of 2019 brought record-breaking demand for homes in Fort Myers. This high demand didn’t just contribute to population growth; it also helped to spur economic growth and revitalization. These factors contribute to the growing Fort Myers real estate business, and there are no signs that it will slow down any time soon.

But there is one major challenge for the Fort Myers real estate property market. With such high demand, the supply of houses struggles to keep up. Current real estate inventories are at record lows. Properties can sell within hours in this hot market. The properties that remain on the market cannot keep up with the demand from buyers. And the experts don’t see an end to this problem soon. Evan Roberts, a native real estate professional from Dependable Homebuyers, believes that this high demand will continue throughout the year, even though the winter months are typically slower.

Many professionals like Evan watch as real estate trends change. And the trends are changing again. The Fort Myers real estate values are rising faster than many other regional cities. The Fort Meyers job market is among the most desirable in the nation, which draws new residents from around the country. Fort Meyers is also popular with tourists. It ranks among the top ten best cities for tourists.

In addition to bustling tourism and an incredible job market, short-term rental properties are also driving real estate values up. A spike in vacation and short-term rentals (like AirBnB) also drives inventory levels lower. Roberts notes that “We’ve seen a spike in AirBnB properties being purchased that have left a lack of inventory for owner-occupants. This [change]... left Fort Myers feeling more and more like a tourist attraction.“

As real estate values continue to increase, the Fort Myers property market shows no signs of slowing down. But, according to Roberts, this growth is what makes the Fort Myers real estate property market the perfect environment for investing. Without additional investment in new homes, many real estate experts believe that the cost of real estate will quickly become unaffordable and unsustainable. For more information about the company and the services they provide visit https://sites.google.com/a/dependablehomebuyers.com/company/home/We-Buy-Houses/We-Buy-Houses-Florida/We-Buy-Houses-Fort-Myers.