I get so excited about new construction~! Why, because it means Jobs, and Economic Growth in our Port St. Lucie area. Locally, Kolter, our favorite PGA builder along with DR Horton, AV Homes and Minto in Tradition are making a positive impact on our area. In addition to PGA and Tradition, all over Port St. Lucie we are seeing additional growth city wide in commercial as well as residential construction.
Nationaly, housing starts soared in November, rising 22.7% from October’s revised estimate and 29.6% from last year, government data shows. Economically, the quick surge prompted market analysts to speculate that the report gives the Fed even more momentum to begin tapering its monthly asset purchases.
Single-family housing starts alone hit a rate of 727,000 in November – a 20.8% climb from October. Meanwhile, the November start rate for buildings with five or more units hit 354,000. Single-family permits alone rose 2.1%, reaching a November rate of 634,000 units.
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