Sarasota-Manatee Region One Of The Hottest Markets For New Home Construction Last Year.
The Sarasota-Manatee region was one of the nation's hottest markets for new home construction last year.
The two counties ranked 27th for residential building among the 50 largest new-home markets in 2016, according to a report by data supplier Metrostudy.
Sarasota-Manatee moved up one spot from 2015 and two places from the 2014 rankings.
The region's top 10 builders closed on 4,247 new homes in 2016, which was 19 percent more than the previous year, Metrostudy said.
Neal Communities, based in Lakewood Ranch, was the top local builder with 861 closings in 2016, Metrostudy reported. That represented an 18.7 percent share of the market.
D.R. Horton, a national builder that ranks No.1 nationwide, was second in Sarasota-Manatee with 789 closings, a 17.2 percent market share. Miami based Lennar Corp. was third, followed by PulteGroup and Bonita Springs based WCI Communities.
In the first quarter of 2017 construction started on 1,370 local single-family units, down 4.4 percent from the same period last year. Rising prices are pressuring growth, but Sarasota-Manatee remained one of just two metro areas in Florida where new home construction remains ahead of its historical average.
Nationally, Dallas was the hottest U.S. market, followed by Houston, Atlanta, Phoenix and Austin. From Sarasota-Herald Tribune.