Naples housing supply falls

NAPLES — During the past year, Naples continues to reduce its excess residential real estate inventory, with the housing supply dropping by 18.5% during the past 12 months.

Overall home sales in Naples continue to increase, reducing the housing inventory in the area, according to a report released by the Naples Area Board of Realtors, which tracks home listings and sales in Collier County, excluding Marco Island.

The Naples Beach area is leading the gains, with pending sales increasing 23% in the second quarter of 2011 with 537 pending contracts compared with 435 pending in the second quarter of 2010.