More than 5,600 new homes still sit unsold in the Orlando area
The number of individuals and families moving into new homes in Orlando-area subdivisions plunged 26 percent during the second quarter, and home builders continued to slam on the brakes.
Starts, or new homes getting under way in the region, fell more than 41 percent in the period ending June 30 compared with the same time a year ago, a report by Metrostudy showed Thursday.
And despite efforts by builders to entice buyers with discounts and deals, more than 5,600 new homes still sit empty in the Orlando area, a number that’s virtually unchanged from a year ago, the Houston-based research company reported.
Unsold inventory did fall overall, a helpful sign for the health of the industry, but it was mostly in the under-construction category, said Anthony Crocco, director of Metrostudy’s Central and Northeast Florida divisions.