From WDBO in Orlando...
"It's a feeding frenzy."
That’s how Dee Tooey, owner of Innovative Realty Solutions Group describes what's become a seller's market in Central Florida. Tooey tells WDBO she is seeing solid growth from the rise in housing prices not just in Metro Orlando but all over the area.
Tooey tells us the area should continue to see the positive economic ramifications from a lack of housing inventory over several counties.
"We are anticipating about a 500,000 housing shortage by 2014."
For what it all means for builders, we asked Scott Merritt, Executive Officer with the Home Builders Association of Metro Orlando. Scott tells WDBO it’s a "very, very welcome."
Scott says hot areas are Champions Gate and Horizons West. He adds that corporate construction is also growing and expects that growth to create even more jobs.
"Builders are conservative much more than they were five to seven years ago, but they’re being more aggressive in their land trading as well, from what we’re starting to see."
Scott tells us every 100 new single family homes built can create 300 new jobs.
"It’s huge for our community, a revenue generator, and getting people back to work."
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