I come originally from Minnesota so for me I would trade the summer rain for the winter snow & cold any day of the week!
1. The summer time is pretty hot. It does rain everyday but usually for no more than an hour. It's just like being up north for me, only opposite. I go from my air conditioned home to my air conditioned car to my air conditioned office! Most homes have a screen on their lani that takes care of the bugs.
2. There are so many homes on the market because (Cape Coral) at least was very desired because of the 400 miles of canals in this town. Many so called "Investors" got 100% financing from sub prime lenders so when the market started to decline they had nothing invested in the property, so they all walked away. Keep in mind also that many people (especially the construction industry) lost their jobs and were forced to leave their homes as many of them had ARM's.
My personal opinion is that Fort Myers has some pretty bad traffic, Cape Coral doesn't have that much. Certain parts of almost any city will have its traffic jams in certain areas at certain times of the day.
The average age of Cape Coral is 46, that is not old!
Good luck and feel free to give me a call with any quesitons.