ape Coral among top performing metro real estate markets
Cape Coral, Florida continues to be one of the best-performing US metro property markets, new figures suggest.
The newly-published Multi-Indicator Market Index (MiMi) from Freddie Mac shows Cape Coral is among many of the nation’s housing markets getting back to normal heading into the spring homebuying season.
On a year-over-year basis, Cape Coral is the second most improving metro area with a rise of 19.25%, ahead of Denver, Colorado, and Tampa, Florida.
The national MiMi value stands at 82.7, up 7.57% year-over-year. Since its all-time low in October 2010, the national MiMi has rebounded 40%, but remains significantly off from its high of 121.7.
On a year-over-year basis, Florida is the most improved state rising 16.72%. In January 2016, 44 of the 50 states and 78 of the top 100 metros enjoyed an improving three-month trend.
The rising property values mean that housing affordability is still an issue. Freddie Mac Deputy Chief Economist Len Kiefer, says, “Despite a stronger jobs market and declining unemployment, wage gains have not kept pace with house prices putting a pinch on homebuyer affordability.”
MiMi monitors and measures the stability of the nation’s housing market, as well as the housing markets of all 50 states, the District of Columbia, and the top 100 metro markets.
Leading Cape Coral real estate land and property investment experts, Qualitas Global Realty, has a new range of affordable three and four-bed new-build homes, complete with landscaped lots, from just $199,900.
Director, Simon Jukes, says, “US property prices may be rising, but Qualitas is pleased to be able to offer attractive options for house purchasers, buy-to-let investors and renters wanting to move onto the property ladder.
“Our new-build homes come with a wide range of features as standard, including a metal roof, large front porch, spacious lanai, granite counter tops, interior marble windowsills and more. They even include a full appliance package and an irrigation system to ensure the landscaped lot looks its best.”
For those needing help to find loans at competitive rates, Qualitas works closely with a number of financial partners.
MiMi combines proprietary Freddie Mac data with current local market data to assess where each single-family housing market is relative to its own long-term stable range by looking at home purchase applications, payment-to-income ratios (changes in home purchasing power based on house prices, mortgage rates and household income), proportion of on-time mortgage payments in each market, and the local employment picture.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets.