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Supply of new homes shrinks

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  • | 7:10 a.m. February 17, 2014
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One month.

That's all the supply of finished but vacant new homes in Lee and Collier's master-planned communities based on current sales pace, according to market tracker Metrostudy.

That's sharp reversal of fortune from the early days of the recovery, when Southwest Florida builders faced a glut of new homes on the market. In 2010, there was about a one-year's supply of new homes, Metrostudy reported at the time.

As a result, builders have posted price increases to account for rising land and construction costs. Those price increases might push homebuyers to consider condos, Metrostudy says.

Metrostudy counts 11,227 vacant developed lots in Lee and Collier counties, a 42 months' supply. But while there are plenty of developed lots in both counties, builders have snatched all the ones in good locations.


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