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Housing experts continue to forecast doom and gloom, but one firm says subdivisions in Lee and Collier counties have recovered nicely.
Metrostudy, the consulting firm that tracks the new-home market in subdivisions, says single-family housing starts in master-planned communities rose almost double from a year ago as the inventory dropped to under six months of supply. Normally, Metrostudy considers the market in balance when inventory reaches seven to eight months of supply.
Move-ins to new homes surpassed housing starts in both Collier and Lee counties in the first quarter, according to Metrostudy, whose teams drive around subdivisions to collect the data.
Lee County's subdivisions are doing particularly well, Metrostudy says. Move-ins during the first quarter rose 89% to 534 compared with the fourth quarter. Inventory in Lee is at 4.5 months of supply, down from 9.9 months a year ago.
In Collier, inventory of new homes in subdivisions is down to a 7.8-month supply, down from 12.1 months a year ago.
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