Many areas of Florida are showing signs of renewed housing demand. Builders are buying lots and land in order to position themselves for future growth. In our most recent Residential Land Survey, 78% of Florida builders noted that finished lot prices were increasing.
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Orlando, Fla. —
“It’s a feeding frenzy.”
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2013 is the beginning of the next major real estate growth period. Driving growth will be new employment and MIGRATION REGAINING MOMENTUM. Here are highlights from a January 5, 2013 article published in the Herald Tribune.
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After falling sharply in the fourth quarter of last year, residential and commercial building permit activity in Volusia County has risen for two consecutive quarters.
Rick Michael, director of Volusia County’s Division of Economic Development, said the increase in residential activity for two quarters in a row suggests the downturn in the fourth quarter of last year may have been a bottoming out of the area’s housing market, which has been in a slump since early 2006.
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Volusia County’s building boom shows no sign of wilting. Barring an unforeseen construction slowdown in the second half of the year, residential and commercial permit values again will crack the $1 billion mark for the third year in a row.
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SOUTHWEST FLORIDA – Building permits rose again during August in both Sarasota and Manatee counties, another sign the growing recovery in new home construction continued.
The number of permits for new buildings issued in the two counties rose 16 percent compared with August 2011. The estimated value of the newly permitted homes was $51 million, an 8 percent increase compared with the same month last year.
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The housing market appears headed for a strong spring season. After a brief setback in December, the Pending Home Sales Index resumed its climb in January, posting a 2 percent gain over the month prior. The data puts pressure on Winter Park home buyers. This is because a “pending home” is a home that’s under contract to sell, but has not yet sold. It’s tracked by the National Association of REALTORS® and, among all housing statistics, it’s the only one that’s “forward-looking”.
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Written on February 15, 2013 by Marc Grossman in Market Reports
The Orlando Sales Statistics for the Greater Central Florida area are out for January 2013. The median price of Orlando homes sold during the month of January shot up more than 18 percent over that of January 2012, a year-to-year increase not seen since the tail end of the red-hot housing market in March 2006. Home sales that closed in January number 1923, an increase of 11.09 percent compared to January 2012. Orlando has now experienced seven consecutive year-to-year increases. The current inventory of available homes for sale again reduced to 7336, representing a 3.81 month supply.
A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time – in other words, it’s the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it’s specifically indicating which price range is more active.
read the full article here