Study: Quarterly home starts drop 15%

SARASOTA — Market researcher Metrostudy's survey of the housing market in Sarasota-Bradenton for the fourth quarter of 2017 shows a 3.7% increase in single-family new home starts compared to the fourth quarter of 2016.

But that comes after a 15.4% decrease compared with starts in the third quarter of 2017. The survey says in total 1,276 single-family units were started in the fourth quarter.

Single-family quarterly closings totaled 1,290 units. Fourth-quarter closings were 3.1% below the 1,331 units closed during the third quarter. The report says Hurricane Irma likely pushed some closings into 2018.

The study also says the top community in the market by annual starts is Lakewood Ranch with 946 starts.