SARASOTA, Fla. (AP) - The boomers are blowing up the new home market in Southwest Florida.
The Herald-Tribune reports (http://bit.ly/2fv03Ap) housing starts surged to the fastest rate in a decade during the third quarter, and the demand from new and upcoming retirees will continue to grow, according to a new report by data supplier MetroStudy.
Builders broke ground on 1,488 single-family units in the region during the July-September period, a 14.5 percent gain over the year.
That was the top three months for home starts since third-quarter 2006.
The pace of new construction has been strong all year. Housing starts in the first and second quarters also were the highest marks since 2006.
(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)