When the townhome community Hampton Cay has its grand opening today with three floor plan options and a “resort-style” clubhouse, it does so in the best market for new home construction in Palm Beach County since 2007.
The K. Hovnanian Homes development east of Florida’s Turnpike off PGA Boulevard comes online following a third quarter that saw building begin on 508 homes, a nearly 61 percent increase from last year and the most since early 2007 .
It’s still a third of the activity seen during a “normal” market, said Brad Hunter, chief economist with MetroStudy, which released the housing statistics in a report this week.