How Many New Homes Are There?

Now is the time to buy in Florida-  The picture below illustrates the level of building going on in each state, based on permits issued.  The more inventory, the lower the prices will remain.  Now is the GREAT time to get in to the market for your retirement home.  Prices are hovering around $130/sf in metropolitan areas and less than $100/sf in rural areas.
Census state-level building permit data help show where building is taking place. Building permits are issued by local building departments prior to construction and are a useful proxy of construction activity. Texas led the nation in total home building (multifamily and single-family) with more than 380,000 permitted units over the 2011-2013 period. Florida (almost 194,000) and California (just under 185,000) were second and third – but of course, larger states should have larger absolute totals.

The combination of growth from energy and other growing sectors of the economy, plus the local economic benefits of construction can form a virtuous circle of growth. Development of 1,000 single-family homes will on average create just under 3,000 jobs, with about 60 percent of these jobs in the construction sector and the rest in other industries including manufacturing, transportation and finance. Similarly, construction of 1,000 typical multifamily homes will create more than 1,100 jobs.
So it’s not surprising, but worth repeating. The housing recovery depends on job growth but will also foster job growth in turn. And growth in the energy and natural resource sectors has been good for housing since the end of the recession.