Housing starts in Southwest Florida spiked sharply in the second quarter, according to a report issued by housing data provider Metrostudy. Overall, starts in Lee and Collier counties increased 11.4 percent from 778 single-family homes in the first quarter to 867 in the second, according to Metrostudy, which tracks new-home construction in subdivisions in the Fort Myers-Naples area and other markets around the country.
Also, Collier has almost caught up with its larger neighbor Lee, accounting for almost half of the starts so far this year. The strong showing in Southwest Florida was part of a pattern in which some of the most ‘beaten-down’ markets such as the Cape Coral property scene are now doing better.
It’s important to remember that the current pace of new-home construction is still a shadow of what it was before the housing boom collapsed in late 2005. By year’s end the region is going to get around 8,500 single-family permits for Lee, Charlotte and Collier counties. That’s far from the 45,000 the region had at the peak (2005); it’s far from the 10,000 the area had in the year 2000. as you can see Florida land sales and home starts are on the rise!
To learn more about SWFL land and the market in the area call a member of the Gratia Group land sales team at (239) 333-2221.