Southwest Florida New Home Construction Sales Update
Posted by Benjamin Dona on Wednesday, July 29th, 2009 at 6:43pm.
In the last 11 quarters, move-ins have outpaced housing starts, which has helped to decrease the inventory. For the first six months of the year, there have been 789 move-ins and 461 new home starts. That leaves the number of finished vacant new homes currently on the market at 705, which equates to a 4.7 month supply at the current sales pace. In addition, prices are still trending downward and communities like Bella Terra, The Plantation and Sandoval have some really good buys on the homes they currently have available.
With the First Time Home Buyer Tax Credit Program offering up to $8,000 to help first time buyers purchase a new home, many builders in the top communities are seeing quite an uptick in traffic this summer. As a result, many are offering lower prices and additional incentives in order to try an entice folks to buy now. So, while no one can say for certain when the bottom will occur for new home sales, if you're considering purchasing a new home, now may just be the time to get off the fence and pull the trigger. You just might be glad you did.
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