Construction of new housing in the Tampa Bay area increased in the final quarter of 2018 although builders continued to focus on higher price ranges.
Quarterly new-home starts were up 18.5 percent overall compared to the same period a year earlier, according to Metrostudy, which analyzes local housing markets. But the biggest percentage increase was in the $350,000 to $400,000 range, which showed a 37.9 percent jump.
"Truly affordable housing is increasingly impossible to build in the Tampa market,'' the study said. In all of 2018, a total of 11,362 bay area homes went under construction. The year ended with a 4.8 month supply of under-construction homes, up slightly from the same period in 2017.
Contact Susan Taylor Martin at firstname.lastname@example.org or (727) 893-8642. Follow @susanskate.