After winning a few contracts, at least one Florida home builder is getting optimistic again.Construction is picking up for Neal Communities:
Housing Wire: Florida could be showing signs of recovery as Neal Communities, a private builder in Southwest Florida secured 24 new contracts for homes in seven different communities in November.
An October report put together by Manatee Association of Realtors found that the supply of new homes on the market continued to decline every month since October 2008. Prices in the area have remained affordable, leading to a recent upward trend. Neal Communities is based in Manatee County.
“The Florida housing industry has been hit particularly hard by the economic downturn, but we have been extremely encouraged by recent indications that the local market is beginning to correct its course,” said Pat Neal, president of Neal Communities.
Unfortunately, despite this spark of optimism, today’s Census Bureau release challenges the notion that Florida housing overall can rebound any time soon.
In stark contrast to the population inflow Florida experienced during the heady housing days of the past, today, nobody wants to live in Florida. That’s a problem when you’re building new houses.
Washington Post: In the first five years of the decade, Florida and Nevada were routinely among the top five in both population gain and growth rate.
But in the latest report, both were among 23 states in which more people moved out than moved in. Florida had a net loss of 31,000, placing it seventh from the bottom.
“Florida was a state people moved to,” said William H. Frey, a demographer with the Brookings Institution. “Now it’s attracting fewer people. It was a growth machine, and it just sort of stopped.”