The Wall Street Journal published a front-page story on July 2 noting one Florida city has the “worst housing market in U.S.”
That city was Cape Coral.
Although the story calls out the Cape, the numbers are indicative of Southwest Florida as a whole. Our housing market indeed is struggling. Home prices for the Cape Coral-Fort Myers metropolitan area have fallen 11% over the past two years, the largest of any metro in America. The story calls out an abundance of “For Sale” signs dotting the landscape, open houses with nary a prospective buyer in sight and listing prices that continue to drop…