South Florida Builders Upbeat About New Home Market

I have reposted an article below about the positive response builders are having to current high demand which is the highest in over 6 years with 5 straight months of positive growth…but just like buyers in some some South Florida markets finding a lack of  available inventory, builders are finding a lack of  building lots inventory to build on.

Steve Roberge

 

 

By Paul Owers, Sun Sentinel Blog

Builder confidence continues to grow, rising to its highest level in more than six years.

The National Association of Home Builders/Wells Fargo Housing Market Index hit 40 in September, the best reading since June 2006. It was a fifth consecutive monthly gain.

South Florida builders have been saying for months that business is picking up. GL Homes, Standard Pacific and Toll Brothers, among other companies, have announced new projects or started construction in Broward and Palm Beach counties.

Builders are bullish on sales, future prospects and consumer foot traffic, NAHB Chief Economist David Crowe said in a statement.

But Crowe added that lack of building lots in certain markets is a concern, as is the rising cost of building materials. “Given the fragile nature of the housing and economic recovery, these are significant red flags,” he said.