Market Watch draws big crowd amid real estate boom

Market Watch returned with a new format and a new lineup of speakers.       …

Market Watch draws big crowd amid real estate boom 1
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Greg Hardwig, Naples Daily News

Market Watch returned with a new format and a new lineup of speakers.

This year’s event, pushed back because of the coronavirus pandemic, came amid a white-hot real estate market, the likes of which has never been seen before in Southwest Florida.

Held at the Hertz Arena on Thursday night, the hours-long event drew a big crowd, eager to hear the latest trends in residential and commercial real estate. 

The speakers, some of Southwest Florida’s most experienced real estate brokers, property appraisers and experts, had plenty to talk about.

David Cobb, a regional director of Zonda Advisory since 2013, with more than 40 years of professional real estate experience, served as the keynote speaker at the event,  sponsored by The News-Press and Naples Daily News.

Cobb has managed multiple home building divisions in Texas, Louisiana, Tennessee and Florida, working for large, public home building companies.

Here’s a snippet of what he had to say: New home sales are booming across the country. Through April, they were up 79% over last year.

Zonda’s index that tracks the demand for new homes, he said, put the Naples area at fourth in the country, based on a 150% increase in activity over last year. The index looks at two factors, pending and actual sales.

Meanwhile, a monthly survey by Zonda found that 21% of new home builders have stopped selling across the country because they can’t keep up with demand.

New home prices continue to rise, based on several factors, including higher labor and material costs.

“Appraisal problems are still a big issue,” Cobb said.


Check back later at News-Press.com or NaplesNews.com for more updates on this story.

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