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SW Florida's housing pace surges to decade-high levels

Posted at 9:07 AM, Nov 21, 2016
and last updated 2016-11-21 09:07:21-05

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.

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