Buyer Demand Leads to Increase in Construction of Tampa Bay Homes
Buyer demand continues to rise in Tampa Bay and not only do buyers want to purchase a home, they are looking specifically for new construction. While some Realtors are nervous about the existing-home market due to investors snapping up resales so quickly, the home building industry is booming and the surge is expected to continue. With buyer demand rising, Tampa communities are selling out quickly and home buyers are encouraged to act fast in order to purchase their dream Tampa Bay home before it is gone.
Throughout the first six months of 2013, residential sales closings in Tampa Bay are up 31 percent. According to Rose Residential Reports, if this trend continues, Tampa home buyers should close on approximately 5,400 new homes in Hillsborough, Pinellas and Pasco counties this year. While that number is still only 40 percent of what home builders sold in a typical year such as 2002, it’s a huge sign of improvement and sales are projected to continue increasing over the next several years.
A rising number of home sales has also led to a rise in home prices, as buyer demand increases, with pricing up more than 20-percent in the past year. However, purchasing a new home is still affordable especially when you factor in the energy savings, modern features and high quality finishes included in a new home. At Highland Homes, our Tampa Bay new homes are priced from the mid-$100,000s and our Personal Selection Studio allows you to choose from a wide-variety of options to perfectly design your new home to your style and needs.
With still affordable pricing and new construction rising, now is a great time to purchase sought-after Florida real estate in a great neighborhood. At Highland Homes, we currently build new homes in the Tampa area in the cities of Zephyrhills, Plant City, and Gibsonton, in addition to more than 20 communities throughout Manatee County, Orlando, Lakeland and Winter Haven. With more than 30 stylish home designs to select from, you are sure to find the perfect home to meet your wants, needs and budget.
For more information on all of our Florida new home communities, visit the Highland Homes website today.