Lee County Home Prices Rise Nearly 5% in February
BY: BUSINESS OBSERVER
April 06, 2017
Existing home prices in the Cape Coral and Fort Myers sections of Lee County climbed 4.9% in February vs. the same period in 2016, according to real estate researcher CoreLogic.
At the same time, prices rose 0.6% in February over January 2017’s levels in the county.
Those increases failed to keep pace with state or national gains during the same period, however.
Statewide, home prices rose 7.2% in February, ranking Florida among the Top 10 states for gains. Washington topped the U.S. in February, with home price increases of 11.1%, followed by Oregon, at 10% and Colorado, at 9.1%, CoreLogic says.
Throughout the U.S., home prices jumped 7% in February as compared to the same month in 2016, according to the Irvine, Calif.-based company’s monthly Home Price Index. Prices rose 1% in February vs. January 2017.
The company anticipates prices will climb another 0.4% between February and March 2017.
Looking even further ahead, CoreLogic believes home prices will shoot up another 4.7% between February 2017 and the same month in 2018, based on weighted indices tied to the number of owner-occupied households in each state.