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- BYGulfshore Business
- January 9, 2023
- Photo Credit:Veros Real Estate Solutions
While home prices across the country are expected to depreciate on average by 0.5% in 2023, the Cape Coral-Fort Myers housing market is forecasted to appreciate by 4.5%, according to a report from Veros Real Estate Solutions. VeroFORECAST evaluates home prices in over 300 of the nation’slargest housing markets. It predicts home value based on analysis of the fundamentals and interrelationships of numerous economic, housing and geographic variables pertaining to home value. Cape Coral-Fort Myers is expected to be the fourth strongest performing market in the next 12 months in part due to high demand and limited supply, the report states. Top-ranked Fayetteville, North Carolina; Wichita, Kansas; and Lincoln, Nebraska, rounded out the top five.
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As an expert with a deep understanding of real estate trends and economic indicators, I can confidently provide insights into the concepts mentioned in the article about the Cape Coral-Fort Myers housing market.
The key source of information in the article is the report from Veros Real Estate Solutions, a reputable organization known for its comprehensive evaluation of home prices in major housing markets across the United States. Veros Real Estate Solutions utilizes a forecasting model called VeroFORECAST, which evaluates home prices based on the analysis of various economic, housing, and geographic variables that impact home values.
The forecast for the Cape Coral-Fort Myers housing market suggests a significant appreciation of 4.5% in 2023. This positive outlook stands in contrast to the expected national average depreciation of 0.5% in home prices. The report attributes the strength of the Cape Coral-Fort Myers market to factors such as high demand and limited supply.
The concepts mentioned in the article include:
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VeroFORECAST: This is the forecasting model used by Veros Real Estate Solutions to evaluate home prices. It takes into account a wide range of economic, housing, and geographic variables to predict trends in the real estate market.
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Home Value Analysis: Veros Real Estate Solutions conducts a thorough analysis of the fundamentals and interrelationships of various factors influencing home values. This analysis forms the basis for predicting the future performance of housing markets.
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National Housing Market Trends: The article mentions a national average depreciation of 0.5% in home prices in 2023. This provides a broader context for understanding the contrasting positive outlook for the Cape Coral-Fort Myers housing market.
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Cape Coral-Fort Myers Housing Market Performance: According to the report, Cape Coral-Fort Myers is expected to be the fourth strongest performing market in the next 12 months. The factors contributing to this performance include high demand and limited supply in the region.
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Real Estate Investment: The mention of New Jersey investors buying the south Fort Myers Barnes & Noble building for $7.3 million highlights ongoing real estate transactions in the area, showcasing investor confidence and interest in the local market.
In summary, the information in the article is based on a well-regarded forecasting model, providing valuable insights into the expected performance of the Cape Coral-Fort Myers housing market in 2023, and it contrasts with the anticipated national trend. This analysis is crucial for potential investors, homeowners, and anyone interested in the real estate landscape of the mentioned region.
