Lee homebuilding permits rise 66%

FORT MYERS — Homebuilders pulled 66% more permits for single-family homes in Lee County in the year ending Sept. 30 than they did in the previous year.

Residential construction is rebounding as the number of existing single-family homes for sale continues to decline and prices continue to rise.

For example, the median price of an existing single-family home in the Fort Myers area rose 27% to $165,000 in August compared with the same month one year ago, according to the Realtor Association of Greater Fort Myers and the Beach. Based on current sales, there's only a five-month supply of existing single-family homes for sale, the association noted.

The Lee County Community Development Department issued 806 permits to homebuilders for the construction of single-family homes in the year ending Sept. 30 compared with 487 in the prior year.

In addition, the department issued 310 multifamily building permits in the year ending Sept. 30, more than double the 152 they issued in the prior 12 months.