- March 28, 2024
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Randy Thibaut brought out the props this year for his annual market trends presentation to the Lee and Collier building industry associations.
Thibaut, president and CEO of Land Solutions, put on two pairs of glasses for his forecast of residential real estate in Southwest Florida. He spoke to more than 350 construction industry executives who gathered in Estero recently to hear his analysis.
Thibaut, putting on rose-colored glasses for effect, says some builders, developers and landowners believe the residential real estate market will return to its 2005 peak.
But Thibaut says the residential homebuilding industry needs to put clearer glasses on and see the reality of increased supply. Builders have been offering incentives to buyers. “Now we're fighting for buyers,” says Thibaut, donning clear glasses with miniature windshield wipers.
Humor aside, Thibaut's message is serious: builders should be careful about overbuilding because supply may outstrip demand in certain areas. “The land deals are over,” Thibaut warns. “You'd better know what you're doing.”