Report: New home starts up 9.8%

TAMPA — Market researcher Metrostudy's first quarter report on Tampa housing states new home starts were up 9.8% over the first quarter of 2016.

The survey shows 2,318 single-family units were started during the first quarter of 2017.

It also states the single-family quarterly closing rate was up 45.3% to 2,482 units in the first quarter compared to first quarter 2016, which is the best quarterly move-in rate since the recession, according to the researcher. The median home price in March 2017 was up 14.5% to $214,200. The median sales price in March for traditional resales was up 9.9% to $220,000.

“Job creation, migration, growing workforce, a steady unemployment rate, record level employment and low interest rates all fueled another solid quarter for housing in Tampa,” says Metrostudy Regional Director Tony Polito in a statement. “The quarterly starts pace of 2,318 units was the second best quarter for starts since 1Q07, behind only 3Q 2016.”