SW Florida's housing pace surges to decade-high levels
Sarasota (AP) - The boomers are blowing up the new home market in Southwest Florida.
The Herald-Tribune reports housing starts surged to the fastest rate in a decade during the third quarter, and the demand from new and upcoming retirees will continue to grow, according to a new report by data supplier MetroStudy.
Builders broke ground on 1,488 single-family units in the region during the July-September period, a 14.5% gain over the year. The was the top three months for home starts since third-quarter 2006.
The pace of new construction has been strong all year. Housing starts in the first and second quarters also were the highest marks since 2006.
Steady as she goes...
Despite the numerous factors influencing the local housing market, (tourism, mortgage rates, supply/demand, elections, etc) sales and home values continue to increase as evidenced in the 10 year chart below.
BrianFoxRealEstate.com
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