How are Central Florida new construction homes doing with the current Florida housing market? In a word, excellent. They’re just as popular as existing homes. Also, due to the popularity and demand for homes in Florida, there are numerous new developments across Florida.
Orlando is one of the biggest areas where they’re building new construction homes to add inventory to the Florida real estate market. Hopefully, this will lower the Florida house prices and make it easier for buyers to buy a Florida home. The Orlando housing market in the past wasn’t as strong as the rest of the market. However, in the past decade, it’s caught up.
As a result, it’s now bringing in demand for new construction homes.
With around 29 builders working with 167 communities in development, that’s a lot of inventory for the Orlando Housing Market. The next on the list are places such as Tampa, Jacksonville, Miami, and Daytona Beach. All of them have already been popular locations. However, since the overall Florida house prices have gone up so high due to low rates and low housing inventory, there’s a boom of construction happening in the Sunshine State.
Will the prices go down?
The Florida housing market is starting to show the early signs that it might begin to cool off. Still, it also shows a keen growth and demand that’s outpacing the supply in the Florida real estate market and the Orlando housing market. As a result, Central Florida new construction homes will hopefully ease down the average home price in Florida. This price has been hitting record highs at the end of 2021 and early 2022.
Just a few months into the new year, you can already see that the inventory levels, due to Central Florida new construction homes, have a large selection here. So for those in the Orlando housing market specifically and looking for new construction homes in central Florida, take a look here. There you’ll start to see it increasing as the months go by.
Do I buy a Central Florida new construction home or an existing home?
It’s all about your preference. Existing homes in good condition are always a good choice in the Florida housing market. This is because they can stand the heat and humidity and be built to last. New construction homes in central Florida are unique; you need additional research to buy a Florida home with the developers who created it.
You want to make sure they’ve built them to last as well. Yet regardless, the Florida real estate market needs new construction homes, especially in central Florida; otherwise, the prices of the houses may become too high.
At the end of the day, whether you’re going for either new construction or an existing home, you’ll be going into the Florida real estate market, which is competitive and intense at the moment. So if you’re convinced you want to get a home in Florida, then it may depend more on availability versus choice.