Is Now a Good Time to Buy a Home in Lee County? What 60 Years of Buyer Sentiment Says
Is now a good time to buy a home in Lee County? For many buyers, yes. Only 20 percent of Americans think it's a good time to buy, the lowest since 1981, and that hesitation has handed Lee County buyers real leverage: about 1 in 5 listings has had a price cut, homes take weeks longer to sell than two years ago, and new construction is selling for about $85,000 less than resale.
I'm Erin Harrel, a Realtor with the Harlan Group at Keller Williams in Fort Myers, focused on waterfront and commercial real estate across Lee County. Here is what 60 years of buyer sentiment data says about moments like this one.
How many Americans think it's a good time to buy a home?
The University of Michigan has asked Americans whether it's a good time to buy a home since 1961. Today, just 20 percent say yes. That matches levels last seen in 1981, when mortgage rates were near 17 percent.
Broader consumer sentiment is also down. The September preliminary reading fell almost 4 points to 47.8, driven by concern over gas prices and inflation.
What happened to buyers who purchased when sentiment was low?
Buyer confidence was highest in 1998, at 84 percent, and hit 61 percent in 2006. Many of the buyers who felt most confident in 2005 and 2006 purchased right before prices fell.
The opposite happened in 1981 and 1982. Very few people felt good about buying, yet those who did went on to enjoy one of the longest stretches of appreciation and falling rates in modern history.
The lesson: sentiment is a trailing indicator. By the time most people feel confident, competition has returned and prices have already moved.
Do buyers have negotiating leverage in Lee County right now?
Low sentiment means fewer buyers are shopping, and the ones who are get more negotiating power. In Lee County, that shows up in three ways.
Sellers are negotiating. About 1 in 5 Lee County listings has had a price reduction.
Buyers have time. Homes take weeks longer to sell than they did two years ago. That leaves room for inspections, contingencies and asking for seller concessions.
Builders are motivated. New construction in Lee County sells for a median of about $85,000 less than resale homes, and many builders offer rate buydowns and closing cost assistance.
The bottom line
No one can time the market perfectly. But if a home fits your life and the monthly payment fits your budget, a market where most buyers are hesitant can be the best time to negotiate. You can always refinance a rate later. You can't go back and renegotiate the purchase price.
Thinking about buying in Cape Coral, Fort Myers or anywhere in Lee County? Let's talk through what your leverage looks like today.
Want more? Comment "LEVERAGE" below, or send me a message, and I'll send you a list of Lee County homes where sellers have already cut the price.
Frequently asked questions
Is it a buyer's market in Cape Coral and Fort Myers? Lee County is close to balanced, at about 5 months of supply, but buyers have more leverage than in 2022. About 1 in 5 listings has had a price reduction.
Are builders in Lee County offering incentives? Many are. Common incentives include mortgage rate buydowns and closing cost help, and new construction sells for a median of about $85,000 less than resale.
Should I wait for rates to drop before buying? If the home and the payment fit your budget, buying while competition is low can mean a better price. You can refinance a rate later, but you can't renegotiate the purchase price.
Erin Harrel, Harlan Group at Keller Williams
Sources: KW Research State of the Industry, September 2026; University of Michigan via ABA Banking Journal; Momentum Realty Lee County scorecard; Florida Gulf Coast MLS, pulled 9/23/2026.
