November 2015 Building Permits

Thursday, January 21, 2016

Residential building permits were softer in November, as is historically normal for the winter months. Still, single family permits were 27% over last year, while multi’s are a nice round double!

Reading the tea leaves on the “Florida Home Sales Info” spreadsheet, you will see that prices have been moving up, but unit sales have been dropping. The calculated “months’ supply” has been lower all of 2015, which helped to support better prices.

Lots of national and international news will color the first quarter of 2016. Let’s see. . . the Fed finally raised interest rates – China’s stock market is crashing (and ours is following suit) – The Syrian refugee migration seems to be endless – Turkey, a very secular Muslim state, is starting to show some cracks. It remains to be seen how the home buying public will react.

Florida Homes Sales Info

David Sumner 1/21/2016

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