Home starts sizzle in Southwest Florida

Home starts surged to a nearly 12-year high in Southwest Florida in the second quarter, with baby-boomer-driven demand still outstripping the supply of new homes. Builders broke ground on 1,782 new local homes during the April-June period, a pace 17.2 percent ahead of last year and the highest total since the third quarter of 2006, according to a new report by data supplier Metrostudy. New-home sales also are sizzling, with the second-quarter closing rate of 1,696 units nearly 9 percent ahead of 2017 and the most in a three-month period since 2007.

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Source: Herald Tribune