FL: Are Naples Home Prices Headed For Another Big Drop?

Naples, Florida Home PricesHome prices may not have hit bottom yet in Naples. Fiserv, a financial analytics company, predicts Naples will take the biggest hit of any metro area in the United States with a price drop of 18.9 percent by June. Prices have already fallen more than 60 percent from their peak in 2006.

Nationwide, Fiserv is forecasting values will fall another 3.6 percent by next June, to a new low since their peak more than five years ago.

Fiserv’s new prediction for Naples is worse than its last. In an August report, the company also ranked Naples as the No. 1 market in the country likely to collapse, but predicted a drop of 16.6 percent by 2012.

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