Subscribers who get their building permit information and residential construction job leads from HBWeekly already know that the residential building market in southwest Florida is white-hot and exceptionally strong. Because of its prime location and fantastic weather, Southwest Florida has drawn international interest and all-cash deals which have helped push the market forward.
According real estate data firm Metrostudy, the Naples-Fort Meyers and Sarasota-Bradenton markets have less than a two week supply of “finished vacant new-home inventory,” meaning that the supply of recently completed new homes without tenants or owners is very low. The vast majority of new homes being built are purchased even before they are finished.
On Metrostudy’s market scale of 1 to 10, with 10 being the hottest, the southwest Florida market is at a strong 7. The shortage of available lots in the area combined with the shortage of construction workers, is the only thing holding it back from reaching a higher level. Many developers are razing older golf courses and buildings to create buildable lots. The increasing number of retirees over the next several years will draw even more home buyers to the area.
There are a few noticeable trends amidst this homebuilding boom. First is that much of the construction is occurring in the dozens of master-planned communities that are currently under construction. Naples’ Isles of Collier and Riverstone, Bonita Springs’ Village Walk, Pelican Preserve in Fort Meyers, and Estero’s Estero Place and Creekside Preserve are all examples of communities currently under construction. In the race to snap up lots and build new homes, GL Homes, Pulte, and Lennar are the clear frontrunners.
Contact HBWeekly today to get information on Southwest Florida’s incredible builder’s market. HBWeekly has proudly served builders in Florida for more than two decades, providing the latest and best building permit data information, as well as building activity reports and market analysis. To see how HBW can help your business succeed, we are happy to provide you with complementary building data report or one of our specialized White Paper Reports. Contact us today and start making your business more profitable.