New home starts see a surge, with a 7.6% rise in construction in September. Analysts attribute the uptick to lack of inventory in the resale sector, a situation that is likely to persist as mortgage rates continue to rise.
Latest figures for pending sales show that new builds in the US continue to boom. The 45.8% rise in the year to October is the highest since spring 2007. Housing starts have also risen along with permits in Southwest Florida, making this a prime market for investment in new single family homes.