New home construction sales continue to be slow in the Ft. Myers and Naples real estate markets according to a report released this week by Metrostudy, a national housing market research firm.
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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8 users commented in " Southwest Florida New Home Construction Sales Update "
Follow-up RSS Comments Feed or Leave a TrackbackIn Austin, we are seeing some increases in new home building, but the sales market is still slow.
I’m hearing that from a lot of folks in the industry. Guess we’re just lucky to be in such a highly sought after place to live.
I guess this is the right time to make purchases if one has cash!
Thank you for sharing and keep posting!
No doubt about it. We had an article in the paper this morning about all the investors snapping up multiple condo units in Miami.
If you can afford it, now might just be the buying opportunity of a lifetime here in Florida.
It’s nice to hear that the market may be on its way to straightening itself out in your area. I hope to keep hearing good news!
I think everyone would like to hear more good news about their markets. It just seems like the main stream media doesn’t really want to talk about too much just yet.
Obviously, you can spin a story anyway you want, and right now they still are focusing on the negative in my opinion.
I can’t imagine why?
I think right now is the best time to buy a new home especially if you can get the first time home buyer credit. I think as the season rolls we will see more people taking the leap to buy before the 2009 tax credit is no longer an option as a safety since we are uncertain as to what credit will (if any) be offered in 2010.
Hi,
I guess this is the right time to make an investment.
It’s nice to hear that the market may be on its way to straightening itself out in your area.
Thanks for the post.
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