Two of the areas largest home builders, KB and Lennar are voicing confidence in the new homes market. Lennar is quite bullish on the market and responded to analyst questions about buying land “We do opportunistically take advantage of market weakness,” he said. “When builders pull back from opportunities, it gives us an opportunity to swoop in generally on something that could be shovel-ready at a price that’s more competitive than it was under contract.”
While KB Home was more tight lipped on the overall market CEO Jeffrey Mezger offered the following guidance, “The economy is expanding. Consumer confidence is high. Employment is strong, wages are growing, and household formation is increasing. Alongside these positive factors, the supply of existing homes remains low at 3.9 months nationally, and below that level in many of our markets, and single-family housing starts for 2018 will once again be well under the long-term annual average.”
So what does that paint against the backdrop of Pasco County? It means that they are a LOT of homes being permitted. It means that there will be many homes built in the near term. And it also mean that there will be opportunities as the local area experiences rapid growth.
Want to find out how this affects you personally? Give us a call today. Whether relocating to the Tampa area is in your future, or if you are selling your home, Team 54 is equipped to help you with the right strategies and the right people to make your home buying or selling experience the best it can be.