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The Sarasota-Bradenton new housing market had a mini-boom during the fourth quarter of 2013, when single-family unit housing starts jumped 41.8% compared with the 2012 fourth quarter, according to a new Metrostudy report.
In total there were 1,041 single-family home starts in the 2013 fourth quarter in the two-county region, up from 734 starts in 2012. The annual start rate, adds Metrostudy in a release, increased by 51.2% over 2012, to 3,749 annual starts. The region now has more homes under construction than any point since 2006. “Sarasota-Bradenton was one of the best in the nation for new construction percentage growth in 2013,” Metrostudy Regional Director Tony Polito says in the release.
In addition to more homes being built, there were more sales in the region. Single-family closings totaled 1,003 units in the 2013 fourth quarter, says Metrostudy, up 29.4% from 775 closings in the 2012 fourth quarter. The 2013 annual closings rate rose 40.4% compared with 2012.
Metrostudy, a real estate market data firm, is a subsidiary of Washington, D.C.-based Hanley Wood.
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