Wednesday, June 19, 2013

Home Start heating up - Fernandina Beach FL

Home starts are erupting By Josh Salman Published: Wednesday, June 19, 2013 at 1:00 a.m. Last Modified: Tuesday, June 18, 2013 at 8:38 p.m. New home construction across Southwest Florida has climbed to its highest level since the Great Recession began battering the industry seven years ago. Builders in the region enjoyed an uptick in May, amid pent-up demand from buyers and a shortage of existing single-family homes for sale. As a result, builders are breaking ground on new homes at a pace not seen since the housing boom in the mid-2000s. "We're ramping up, and I still don't think we have seen the peak at all," Lakewood Ranch-based homebuilder John Cannon said. "For many years, people were looking at distressed property, and that inventory has decreased drastically. We are seeing increased demand across the board." Builders in unincorporated Sarasota County pulled 86 new single-family building permits in May, a 5 percent increase from April and a 46 percent gain from the same time last year, according to county records. The 255 new residential building permits in Manatee similarly were up 9 percent from the previous month and jumped a whopping 98 percent from May 2012. The bulk of new permits in Manatee were issued for Lakewood Ranch and Parrish, the two most popular areas for new-home buyers this year. The combined totals from both counties were a post-recession high in May, as builders scramble to complete homes in time for next winter's busy selling season. Permit activity measures homes that are expected to begin construction within three months. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: Web:

1 comment:

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