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November 11th, 2008 8:39 AM by David W. Welch
Check out the link below to an article in the Orlando Business Journal last week. Anthony Crocco Director of Metrostudy's North and Central Florida divisions talks about the new home inventory in Orlando. While housing starts are off significantly compared to last year, the inventory of available new homes is down as well. In fact, starts are off 45% compared to 2007, and the inventory is down by over 37%. Even more dramatic is the drop in lots delivered for building. Delivered lot inventory fell by over 69% to just over 1,000 compared to the third quarter of 2007. Available lot inventory is still a staggering 43,303 representing an 83 month supply at the current pace.
Official Orlando real estate statistics should be released some time today. I'll post those when they come out, so check back here later.
David Welch, Orlando Real Estate Blog