Naples reader Al Pilver reached out this past week to In the Know and talked about “the addition of a substantial number of new apartments. How has this circumstance impacted the condo market and single family homes? My sense is that all these new apartments have particularly had a negative impact on condo sales.”
Indeed, that does tie in a bit to new findings this past week and in recent months showing how the Gulf Coast glut is affecting the Southwest Florida market.
For one, Southwest Florida remains at the top in the nation for rent decreases, with Fort Myers, Sarasota and Naples occupying Apartments.com’s first three spots for the second month in a row in its July report…