There were 2,467 foreclosures last month, up 3 percent from the 2,390 foreclosures in June, while permits for new single-family homes could best be described as a mixed bag - up in Cape Coral, down almost everywhere else, according to numbers released Friday.
Not all is bad. People are taking advantage of bargains in the real estate market, giving hope Southwest Florida could soon stabilize itself, housing leaders said.
"Foreclosures are doing what they're doing, but the good news is that people are buying foreclosures, so at least there is a demand for these," said Jeff Tumbarello, director of the Southwest Florida Real Estate Investors Association, which tracks foreclosures.
"For every two deeds they take back, they've been selling one," Tumbarello said.
Still, the numbers paint an ugly picture even for the biggest optimist. In July 2007 there were 1,045 foreclosures. Last month's record figure was the fourth consecutive month foreclosures topped 2,000.
The gluttony of existing and foreclosed homes on the market isn't doing the construction industry any favors.
Community development administrators from Bonita Springs and county government - which includes Lehigh Acres, Estero, south Fort Myers and North Fort Myers - reported drops in the number of permits issued for new single-family homes in July.
Only Cape Coral had a bit of good news, reporting 22 permits for new single-family homes were issued in July. That's the third highest monthly total this fiscal year, which began in October.
