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.
Demand for new homes in Southwest Florida reached record levels recently on the back of pent-up demand, low supply and low interest rates. Analysts believe that this demand is set to continue as shifts in lifestyle favour customised housing with space for families.