Single family home inventory in Cape Coral at end of July fell to 4100 homes which is down about 1500 homes over past 12 months. In July, 570 home sales closed and inventory dropped by 383 homes with a net 187 added homes coming in. At July sales pace, we have 7.2 months of inventory.   The new or relisted homes coming on the market in July were 50% “normal” and 50% mortgage distressed homes. Sales are still weighted towards distressed properties with nearly 70% of sales. There is strong buyer competition for well priced homes while the market is ignoring over priced homes.