Included in my last several months of articles, blog posts and news flashes forwarded to my subscribers, the subject of available inventory of homes in the Sarasota real estate market has been front and center. There had also been a few references to the positive, yet cautious optimism from home builders.
This week’s announcements from National Home Builders, HUD and the Department of Commerce broadcasting the exceptionally positive news of new home sales reaching a two-year high, and up more than 20% over the same month last year, is encouraging on so many fronts. U.S. building permits also saw a great deal of activity, up 29.5% over July 2011 and reaching a pace not seen since 2008.
From the home builder confidence that properties they have been sitting on for several years waiting for demand to return so they can again get back to the business of constructing, to the great effect the trend will have on the jobs market (the builders’ association estimates that each new home built creates an average of three new jobs for a year,) enthusiasm for new development in the Sarasota real estate market is deserved, and most of all welcome.
Qualified buyers are able to not only take advantage of historically low interest rates but, with the cost of building supplies and labor still relatively low, buyers interested in considering building a custom new home have a great opportunity right now. The challenge we still face, however, is that with the pace of sales of new homes is greater than the number of new home starts, and our inventory drain is not being resolved.
Attached is an article that Michael Saunders posted this week on the same subject, titled Building New.
In addition to the terrific selection of vacant properties throughout the Sarasota market, I have several listings of spectacular sites and would be delighted to show these or any others that may meet your special needs and desires. Whether your preference is for direct waterfront, canal lots, garden locations or ranchette and estate properties, Sarasota offers many choices for every Florida lifestyle and budget.
Michael’s Vacant Waterfront Property Listings