47% Drop In New Home Starts For Orlando

Orlando area home builders are feeling the pain of the slow housing market. With new home starts down 47% from the same time last year builders are tightening their belts to weather the storm. While this is a painful time for local builder in the short run Economist  and industry experts say that fewer new starts mean less inventory to absorb which in-turn will help the recovery of our local market rebound faster.

We are currently sitting on a huge inventory of unsold homes. The only way we can get the inventory down is by selling more or reducing the new inventory added. This sounds simple but its pretty basic. If local builders can put the brakes on for new starts in the short term, they will benefit from a stronger recovery in the long term.