According to a new report from data firm Metrostudy, construction starts in the Sarasota-Bradenton market were up 17 percent in the second quarter over the same time period from last year. Contractors started 1,492 single-family homes over the period, with 5,406 starts this year, an increase of over 32 percent. The report also states that single family quarterly closings totaled 1,447 units in the second quarter, a 35 percent uptick year-over-year and the best single quarterly closing rate since the recession. “Retiree demand should continue to drive growth in starts and closings in Sarasota over the next few years,” said Tony Polito, regional director of Metrostudy’s Sarasota/Bradenton market. “Potential road bumps include rising interest rates, affordability issues, public sentiment towards growth, the overall economy and the ability to sell homes ‘up north.’”
