Sarasota-Bradenton housing starts rate jumps 33%

The housing starts rate in the Sarasota-Bradenton region is down from the end of last year, but it increased 32.8% in the first quarter of 2014 over the 2013 first quarter.

The rate in the North Port-Bradenton-Sarasota metro area is now 3,785 annual starts, according to a new report from Houston-based real estate data firm Metrostudy. That's an 11.7% drop over the 2013 fourth quarter. In total, 918 single-family units were started during the first three months of the year in the region, an increase of 2.7% from 894 units in the first three months of last year.

The key to more growth in housing starts, and sales, is confidence, says Metrostudy regional director of the Sarasota-Bradenton market Tony Polito. “The major factors going forward will continue to be consumer confidence and general continued improvement in the national economy and the job market, which help retirees sell northern homes,” Tony Polito says in the release.