According to Metrostudy Research Firm, South Florida ranks among the top markets of home construction. The tri-county area is ranked ninth in the country. This was after conducting a nationwide survey of nearly a thousand communities, including job and population growth with housing evidence. The construction business is doing very well right now. The reason is that there is a high demand for new homes. But, the supply is minimal which allows for homebuilders to work the market to their favor.
Ocala came first on the list. Followed by Orlando at number two, Fort Myers ranked third and Naples sixth. From 2000 to 2005 when the housing boom began, the builders in South Florida generally initiated at about 1,000 homes a quarter. However, when the construction hit an all-time low in 2009 the quarter only gave about a few dozen homes. Since the market has picked back up for homebuilders, they are now facing a new problem; land on which to build.
Palm Beach County home construction has started to move west to find suburb land. In Parkland, located in the northwest region of Broward County, approximately 1,500 homes will be built. But, empty lots are a rare commodity to find. So, builders are looking for old locations to decimate and build new ones.
If you have questions about Foreclosure, Loan Modification, Bankruptcy, Short Sale, or other alternatives, please feel free to call my office at 888-886-0020, send an e-mail to emil@fleysherlaw.com, or complete the contact form below.
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