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You are here: / / / October building permits and housing starts show mixed results

According to the Census Bureau and BEA (Bureau of Economic Development), “Building permits in October 2015 were at a seasonally adjusted annual rate (SAAR) of 1,150,000, up 4.1 percent from the revised September rate and up 2.7 percent from October 2014.”
 
These results typically mean that builders are generally feeling confident about the future need for new homes in the areas in which they build. Depending on the area, and business practice of the builder, permits are typically not applied and paid for until the builder is about to start construction on a new home – permits and government fees are a rather expense line item in the construction budget. Focus Homes is feeling very confident about the housing needs in Central Florida as there is a shortage of housing inventory overall in the Greater Lakeland and Polk County areas. Call (863) 640-2246 to discuss your new home plans with Focus Homes today!
 
“Housing starts in October 2015 were at a SAAR of 1,060,000, down 11 percent from September and down 1.8 percent from October 2014.”
 
Depending on the size and design complexity of the home, and the efficiencies of the individual builder, new Florida homes can take anywhere from 60 – 180 days to construct, this means that housing starts in October will be delivered between December 2015 and April 2016. A declining start number in October means that builders are expecting fewer sales in the months between now and the deliver dates, or, it could also mean that builder standing inventory is slightly higher than projected and that builders don’t need to start more homes to hit their sales projections between now and the estimated delivery dates of new starts.
 
Focus Homes builds new custom homes in Florida and can help you design your new place with their friendly team of experts. Contact us online today to request more information!

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