Builder activity in the Fort Myers area jumps in November

November isn't traditionally a busy month for homebuilders, but the recent activity may be an indication of how good spring is going to turn out.

Market tracker Hanley Wood says a 38% increase in new-home sales in November suggests business started picking up early going into the busy winter and spring selling season. That's despite the fact that builders sold 1,404 new homes in the year ending in November, just a 3% increase over the same period one year ago.

The inventory of existing homes is falling, foreclosures are slowing and prices are rising, which is pushing buyers back into the new-home market. As a percentage of total home sales, 8.1% were new homes in the year ending in November. That's up from 6.1% in the same period one year ago.

Homebuilders have been able to raise prices modestly. Hanley Wood says the average price of a new home rose to $271,803 in the year ending in November, a 2.3% increase over the same period the prior year.