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APRIL 16, 2009

The turnaround that wasn't: New home starts still unsteady

National housing starts were off about 50 percent in March compared to starts a year earlier, the U.S. Census Bureau said. I'll get you the more useful local wrap up as soon as possible from my sources. But in the meantime you can chew on this.

Brad Hunter, chief economist of housing prognosticator Metrostudy, said the March downturn was expected. Not only are builders struggling to sell at a profit, but consumers are still standoffish.

 “There are ‘four Fs’ of pent-up housing demand: fear, financing, falling home prices, and failure to sell an existing home,” Hunter said. “People who have a legitimate need for a new home are holding back because of these factors."

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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.

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