Per Trulia the average price per sq ft of homes sold in Lehigh Acres, Florida went up 5.26% from the prior quarter. Moreover of the 180 homes sold in the last 60 days, the average listing price went up .26%.
Lehigh Acres, Florida, long the poster child of the down turn in the housing market is showing signs of life. Buyers and investors waiting for the next bottom to fall out, may find themselves missing an opportunity to score a home in this quiet SW Florida community while the stars are aligned.
Mortgage rates are still low, something that cannot be garaunteed, and is likely to change with the threat of a reduced credit rating for the US and the increase in lending costs promised as a result.
Even if home prices were to decrease further, and indications suggest they are not, you would need a significant decrease to offset the additional cost of one percentage point in interest!
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