Has Cape Coral, Florida seen the worst of the housing crisis? Is Cape Coral,Fl in the early stages of a housing recovery? Are buyers returning to Cape Coral, Fl? Those are tough questions to answer at this point but there are positive signs.
One indicator of a recovery in housing is new building permits. Judging from the permits issued for single family residential homes, the answer appears to be that the worst is over. August 2011, with 28 new building permits, was the best August since 2007 when 50 new permits were issued. Since 2008, August has been a month where new building permits trend downward from July. That was not the case in 2011. New home building permits rose from 18 in July 2011 to 28 in August 2011.
The year to date numbers show 2011 is also experiencing the best year for new permits since 2007. Through August 2011, Cape Coral, Fl has issued 177 permits for new single family homes. Compare this with 2008 (172), 2009 (118), and 2010 (163). The rest of the year bears watching.
Nobody is predicting that a return to the boom times is around the corner; however, the news on new single family home building activity is refreshing. This follows the news released in May 2011 by the developers of Sandoval, a gated family community in Cape Coral, Fl, that reported 44 first quarter sales in 2011 compared to 24 for 2010, an 83% increase. The numbers may be small but they are encouraging indicators of a housing recovery.
The chart below indicates the number of building permits issued by month for a new single family residential house in Cape Coral Fl going back to January 2008. Note the spike in August 2011 vs a downward trend in previous years. This appears to be the right time to buy in Cape Coral Fl. Contact me by clicking here to learn more about the existing opportunities.
Stay tuned for the September 2011 data to determine if the new building permit numbers increase again .