Lee housing inventory remains tight

FORT MYERS — The supply of existing single-family homes available for sale in Lee County remains below six months based on the current sales pace despite rising prices.

“Inventories have remained tight through much of this year, thus buyers are anxious about finding a home as prices continue to rise,” says Doreen Falcone, president of the Realtor Association of Greater Fort Myers and the Beach. “Homes priced under $150,000 represent less than 25% of available inventory. This, coupled with the competition from cash sales, has created anxiety for many local residents as financing becomes harder to obtain.”

Based on the current pace of sales, there were 5.7 months of inventory of existing single-family homes for sale in October, the association reports. That's down from a six-month supply in October 2012.