Over the past couple of years, the housing market in Florida has been turning itself around from its lows during the economic downturn of 2008. But, while this is good news for most home owners, it has also created a much higher demand for new construction, in turn, sparking a lack of inventory for many new home builders.
In the fall of 2016, the U.S. Department of Commerce reported that lack of inventory is holding back the sale of new homes – not just in Florida, but around the country as well – and because of this, new home sales figures are actually dropping. In fact, one of the biggest issues that is weighing on the housing market is lack of both existing and new home sales.
According to the Commerce Department’s figures, the demand for spec and inventory homes is far exceeding supply in some cases, particularly in areas of North Florida, where builders are competing with resales in a tight market.
In Central Florida, the National Association of Realtors reported even as far back as mid-2015 that new home construction was at its highest level in more than seven years, with construction starts up by roughly 20 percent, and home construction permits up by 10 percent.
So, what if you’re currently seeking a custom built home that is designed specifically to your personal tastes?
The good news is that, while the demand for custom built homes in Orlando and Central Florida has significantly increased, by working with the right builder, you can still keep your home building dreams on track – as well as within your budget.
When you choose Rare Builders, we will ensure that you obtain the custom built home you’re dreaming about in a timely manner. Give us a call today to learn more about how the process works, and how we can get you in your dream home quickly and seamlessly.
