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April 30th, 2008 8:21 AM by David W. Welch
The Orlando Sentinel and the Orlando Business Journal both reported MetroStudy results today for the first quarter of 2008. The total inventory of new homes from start to finished inventory went down by 1,100 compared to the fourth quarter of 2007. That should put the number around 7,600. A total of 2,630 units closed over that time which is slower than I anticipated. The lower prices of the resales may actually be having an effect on the new home sales. I think the bigger impact may be gas prices, since many of the new home subdivisions are further out of town. I have three listings in the Conway area of town that have been hurt somewhat by new homes further out, but the high gas prices may actually have people looking closer in now. The dynamics of the current economics are very interesting to watch. I know that I would like to be working with a lot more home buyers right now.