Orlando Needs 47k Construction Permits

Dated: 09/21/2016

Views: 183

A recent study by the National Association of Realtors found many U.S. metros fall short of new home construction when compared to demand, according to a recent article by floridarealtors.org (http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=343007) In particular, the Orlando-Kissimmee-Sanford metro area ranks 63, just two places behind Tampa-St. Petersburg-Clearwater, on the list of Florida metro areas with a 4 to 1 ratio of number of houses needed versus the number of new homes under construction based on the number of new jobs.

What does that mean for buyers and sellers? It could mean that home prices may continue to rise while there's a lack of supply of inventory. It would appear that it may be a good time to sell if owners are thinking about getting top dollar for their home. However, it may also mean those same people may be paying above-retail price to buy another home.

To take advantage of this opportunity to sell at a higher price, call me today 407-579-1423.

– Jason W. Little

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