With the recent drop in housing inventory in Orlando, and the subsequent rise in home prices, it appears as though homebuilders are seizing the moment to begin new construction projects in the Central Florida area.
The Orlando Business Journal reported that Lennar Homes LLC, Mattamy Homes Corp., and David Weekley Homes LLC spent a combined total of over $20 million on home lots in the Orange County area. All three builders are local to Central Florida.
Given that new home sales rose from 556 in the January-February period of last year to 615 in the same period this year, as well as building permits rising 57% in the metro Orlando area, it is not surprising that builders are looking to expand in the current market.
“If you talk to builders, we’re all becoming more optimistic than we have been in the last five years,” stated Steve Parker, president of Mattamy Homes Corp. “There’s a much better business environment today.”