The just released September 2011 new home building permit data by the city of Cape Coral Florida offers more encouraging news. There were 25 new home single family building permits issued for the month. That brings the year to date total to 202. Compare that number to the 180 permits issued through September 2008 or 2010. Many will gladly take a 12 percent increase in these difficult times for builders. Compare the total to the 136 total permits for a new house issued year to date in 2009 and the 48.5 percent increase is further proof that the housing bottom for the city of Cape Coral, Fl is in the rear view mirror.
It certainly appears like Cape Coral, Fl is in the early stages of a housing recovery. Inventories are also way down from the 2007-2009 period where foreclosures and short sales caused homes on the market to exceed 10,000. Resale properties have leveled off to the 1400-1500 range for single family homes since July. Buyers are returning slowly but surely according to the data. Why not? Cape Coral still has its’ 400 miles of canals, the Caloosahatchee River, Gulf of Mexico, proximity to Naples, Fl and Fort Myers, Fl and desirable Southwest Florida climate to attract those seeking to purchase at a 50% discount to prior years.
New single family home building permits are just one indicator pointing to a housing recovery. Going back as far as 2007, when 824 building permits were issued, permits trended steeply downward in 2008 (209) and 2009 (180). The year 2010 (215) saw a return to 2008 levels. Now 2011 appears to be well on its’ way to being the best year of the last four years for new home building. Another 14 permits over the last 3 months will make it a reality.
“The recovery has to start somewhere”, said Michael “Al” Rogala a Realtor® who specializes in Cape Coral and Fort Myers, Florida properties; and I’m optimistic 2011 is the beginning of that recovery. Gulf access, no bridge lots on the spreader are selling again. Several have sold for over $300,000 in the last few months.” Visit his website for more information on eight fabulous featured communities plus prestigious waterfront dream lots and homes by clicking here.
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. Stay tuned for the October 2011 building permit data. Cape Coral Florida will need to issue 24 new single family home building permits in October 2011 to beat the number issued in October 2007, four very long years ago. contact Mike by clicking here. He will help you weigh the pro’s and con’s of Cape Coral Florida’s builders or discuss the existing resale opportunities.