New home industry really coming back?
BeckyNordan recently built a brand new home in Cape Coral. Her realtor, Craig Young, says building new is now a big trend.
“Essentially we have a shortage of supply and people are looking for a new product,” said young.
“We are seeing very good traffic count in our model centers and people are buying homes,” said Jonathon Pentecost of DR Horton Homes.
DR Horton is just one builder who is doing extremely well in southwest Florida. Right now they have 371 homes under construction and that’s triple the number at the same time last year.
“We are seeing a lot of confidence from the buyers, we are seeing good sales numbers month over month and our homes are selling,” said Pentecost.
From January to May in Lee County there have been 347 single family home building permits issued. Last year during that time, the number was just under 200.
“We are still cautiously optimistic, but we are really happy about what we are seeing on the horizon right now,” said Heather Mazurkiewicz with Lee Building Industry Association.
“That is a significant amount of jobs that the industry is creating right now,” said Mazurkiewicz.
“The current market right now that is really booming is $150,000-$250,000 on the off water pool homes,” said Young.
Nordan says building new actually saved her money.
“We thought it was a better bargain than some of the re-sales we looked at,” she said.
Some of the smaller home builders also said conditions have dramatically changed, but say if interest rates spike again, the recent success could come to an end. Click here to view original article.
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