St. Johns County New Home Building Permits Down in April 20195/25/2019
Permit requests to build single-family homes in St. Johns County were down in April 2019. How much so, you ask? Almost 50 percent down - when compared to the 281 permits issued by the county last month, to the 522 residential permits issued in April 2018.
So what's happening with the market? Well, don't panic. I can confidently say that the market is healthy. Don't forget that the 2008-2011 timeframe the housing market was in recovery mode, especially in Florida where vacant homes sat for years. So when the economy began to recover, home building picked up very slowly.
After enjoying a booming economy in the Obama administration, super low interest rates, and first-time home buyer tax incentives, consumers and home builders began gaining confidence around 2013. And that's where we find ourselves today. St. Johns County has been super hot the last couple of years. And simply put - I believe the decline in permit requests means that builders have finally caught up with the growth and demand plain and simple. Do you live in St. Johns County? What do you think about nearby new home construction?
This May 21 St. Augustine Record article offers a little more insight on growth and permitting in the county: https://www.staugustine.com/news/20190514/home-building-at-solid-pace-in-county
And if you want to see last year's take, this April 2018 article highlights the continued growth in St. Johns County: https://www.staugustine.com/news/20180516/county-sees-record-number-of-residential-permits-in-april
- Mabel Perez, Real Estate Maven