Not a lot of lots as home starts decline in Miami

Shortage of residentially zoned land hamstringing developers

TRD MIAMI /
Sep.September 05, 2014 03:00 PM

A shortage of residentially zoned land in Miami is making it difficult for developers to meet demand for single-family homes.

Restrained by the Atlantic Ocean and the Urban Development Boundary, homebuilders “can’t go east and can’t go west,” Truly Burton, executive vice president and government affairs director of The Builders Associations Chapter of the Florida Atlantic Building Association, told Miami Today. “I call it a conundrum.”

“Larger builders can hang in there, but most of the smaller ones who were building 50 to 100 affordably priced homes a year are gone – either given up, retired, foreclosed upon or fighting with their banks.”

According to a report from Metrostudy, there were 2,242 home starts in the second quarter — down 8 percent from the previous quarter and 7 percent, year over year.

“There’s a constrained supply of good lots and good locations, and the pipeline of replacement lots is not keeping up with demand. Lot shortages will be an issue for the next couple of years,” David Cobb, regional director of Metrostudy South Florida, told Miami Today. [Miami Today] Christopher Cameron


Related Articles

arrow_forward_ios
Patti and Allan Herbert with 4845 Southwest 78th Street (Credit: University of Miami and Redfin)

After selling their Richmond Hotel in Miami Beach, this couple bought a new house

After selling their Richmond Hotel in Miami Beach, this couple bought a new house
Zillow CEO Rich Barton (Credit: iStock)

Zillow Offers launches in South Florida

Zillow Offers launches in South Florida
(Credit: iStock)

Rough quarter: Resi sales fall in Broward, increase slightly in Miami-Dade

Rough quarter: Resi sales fall in Broward, increase slightly in Miami-Dade
Miami skyline (Credit: iStock)

Bringing some sunshine to South Florida’s opaque resi report outlook

Bringing some sunshine to South Florida’s opaque resi report outlook
June residential sales plummet (Credit: iStock)

Resi sales plummet across South Florida’s three counties in June

Resi sales plummet across South Florida’s three counties in June
South Florida skyline (Credit: iStock)

South Florida resi markets reported choppy sales in Q2: Elliman

South Florida resi markets reported choppy sales in Q2: Elliman
The Miami skyline (Credit: iStock)

South Florida home sales rise in May as price growth slows

South Florida home sales rise in May as price growth slows
Coco Amar

May home sales rise almost 10% in Naples amid eastward market shift

May home sales rise almost 10% in Naples amid eastward market shift
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...