Housing Crisis Deepens Slightly in Poinciana

POINCIANA (PHN) | Poinciana real estate continues to behave like a house of cards.  While price per square foot decreased once again, and list prices did not fall below last month's low of $69,900, sales have decreased and inventory is once again on the rise.  Only 2.6 homes sold in Poinciana-proper in April.  (For chart, go to the original release location.)

A total of 98 homes have been sold in Poinciana so far in 2008.  The least expensive of these sells today for $44 per square foot, a decrease of $4/SF from March 2008.

Inventory continues to rise in Poinciana while sales dipped slightly in April.   It is expected that May will show a new low for home values, as  sales continue to lag behind the now-increasing inventory in the area.