New home research company, MetroStudy showed Collier County’s (Naples and Marco Island) housing starts in first quarter 2016 were up 23% from the first quarter of 2015, as demand for new homes remains strong. Closings are also on the rise, up 31% over last year. This marks 19 consecutive quarters of growth.
“The market is still expanding,” said Richard McCormick, South Florida Division President of Pulte Group in Ft. Myers. McCormick adds that home sales will most likely match last year’s pace at year-end. However prices in the mid-market range will not rise at a similar clip. This should result in some breaks for buyers. Speaking to the Collier Building Industry Association recently at the Hilton Naples, Michael Diamond, president of Diamond Custom Homes, noted a change in the desires of his upscale clients, “We’re building great room floor plans almost exclusively. The formal living room and dining room is right now a thing of the past, as are the heavy wooded studies. People are emailing on their lanai. Everything is simpler and cleaner. “
MetroStudy is the leading provider of primary and secondary market information to the housing and residential construction industry. It is the construction industry’s only integrated data intelligence solution supported by the most extensive U.S. geographic coverage.
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