Construction of new homes jumped at the end of 2018

Companies continued to focus on higher price ranges. A study finds that affordable housing is ‘increasingly impossible’ to build.
Waterset on Big Bend Road and U.S. 41 in Apollo Beach had more new-home starts in the past year than any other new-home community in the Tampa Bay area. [SUSAN TAYLOR MARTIN | Times]
Waterset on Big Bend Road and U.S. 41 in Apollo Beach had more new-home starts in the past year than any other new-home community in the Tampa Bay area. [SUSAN TAYLOR MARTIN | Times]
Published February 11
Updated February 11

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 smartin@tampabay.com or (727) 893-8642. Follow @susanskate.

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