Will the white-hot housing market in Southwest Florida continue, correct or crash?
Denny Grimes, president of his team at Keller Williams Realty, offered an answer to that burning alliterative question at a Market Trends summit Thursday night.
His answer? “It’s going to correct and it’s already started,” he said.
At the night-time event, three local real estate experts delivered data-packed presentations on where the region’s market has been, where it stands and where it’s headed. They shared both residential and commercial trends and statistics with a crowd of nearly 600 at the Caloosa Sound Convention Center & Amphitheater in downtown Fort Myers, with others attending virtually.
As for the residential market, signs of a correction appeared a few months ago, when buyers began to balk at the high prices driven up by a combination of strong demand and low inventory.
“I think the demand is still there, the demand is still high,” Grimes said.