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New construction of single-family homes in Tampa-St. Petersburg-Clearwater fell 9.6% over the year in the second quarter, down to 1,038 new starts, according to Metrostudy.
At the same time, new home construction picked up in Sarasota-Bradenton (up 3.1%, to 404 units), and in Lee and Collier counties (up 11.1%, to 401 units).
Closings on sold homes fell dramatically in Tampa Bay and Lee-Collier, down 29% in either market, Metrostudy estimates. In Sarasota, closings fell 8.4%.
Metrostudy's latest estimates of housing inventory are between six and eight months for each metro area. Tampa Bay has the largest supply, at 8.4 months, while Lee County maintains a 5.9-month supply of homes, essentially unchanged from last year.
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