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Inventory of Spec Homes in Central Florida is decreasing and prices are rising, Lennar warns “Now is the time to buy”

Tuesday, May 31, 2011 / Lennar

ORLANDO/TAMPA, Fla.  ---   The inventory of available ready-to-move-in spec homes in the Orlando and Tampa Bay regions is decreasing and that means prices are beginning to rise, according to one of Florida’s most active home builders.

Mark Metheny, president of Lennar’s Central Florida Division, which builds new single family and town homes in 20 communities in the Clermont, Orlando and Space Coast areas and in 15 communities in the Tampa Bay region, said Lennar is working hard to maintain ready-to-move-in homes in all its communities.

 “As inventories decline, the law of supply and demand is reasserting itself,” Metheny said.

Currently, Lennar’s ready-to-move-in homes at its communities in Hillsborough, Pasco, Hernando and Polk Counties are priced from the $70s to more than $400,000.  In the Clermont, Orlando and Space Coast regions Lennar move-in ready homes are priced from the low $100s to the high $200s, Metheny explained.

“We are building new ready-to-move-in homes in all of our communities and it is getting harder to keep up with demand,” Metheny said.

 As the Florida housing market recovers, some buyers are going to see a window of opportunity close, he said.

“Right now, the lowest pricing, the lowest mortgage interest rates and the best availability all point to a unique window for home buyers that will close as demand increases and prices rise," Metheny said.

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