Orlando Real Estate

New Home Construction Down

October 17th, 2008 1:24 PM by David W. Welch

Construction of new homes dropped by more than 6% which is quitea a bit more than the expected drop. The current rate of construction is 817,000 units a year compared with the expected 880,000 units. The good thing about this is that builders are not adding to the already bloated inventory of properties for sale. Here locally, builders are pretty much not starting  construction of any new properties unless they have a contract. Prices have actually dropped to a point at or below the actual cost to build, so I don't expect to see this trend improve for some time.

David Welch, Orlando Real Estate Blog

Posted in:General
Posted by David W. Welch on October 17th, 2008 1:24 PM

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