Due to the Thanksgiving holiday, the permit activity was late coming out this month. There were some big adjustments in previous months. Lee county lowered their single family count by about 100 in September while both Charlotte, Palm Beach and Broward raised their multi count by well over 100 each in the same month! These adjustments happen every month and I try to follow them. This changes my report of last month to state that we really had more combined permits in September than we have had since March of 2007! Also, the “Months Supply” is quite low at 4.4 months of inventory for sale.
Here is an interesting study about housing expectations in 2016. It was made by Trulia, the online home listing company. Several of the charts are based upon gut feelings derived from “man-on-the-street” interviews. Still, it’s the “man-on-the-street” who buys homes. A bright spot is that, among 18 to 34 year olds, homeownership is back as part of their American Dream!