Tampa, Sarasota set record lows for new housing construction
February 4, 2009 at 9:20 am by Wayne GarciaFrom the Tampa Bay Business Journal:
The housing market is expected to improve later this year, according to a new report from Metrostudy, but for now, construction on new homes is limited.
Tampa had 932 single-family housing starts in the fourth quarter of 2008, a drop of nearly 33 percent compared to 2007, marking the first time in 23 years that the Tampa Bay market had fewer than 100 housing starts.
The previous low, 1,041 starts, was reported during the first quarter of 1991, said Metrostudy Tampa Bay division director Tony Polito. The year-over-year decline mirrors what the market did over the course of 2008, falling just under 35 percent to 4,730 units.
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