A lack of inventory has dogged the national housing market for sometime now. Believe it or not, the same holds true here in northeast Florida, even with all the development we’re seeing. In fact, the latest numbers from the Northeast Florida Association of Realtors show a more than 21% decrease in inventory over this time last year.
Area builders are responding, however, as evidenced by an uptick in permits for new homes. Many of these permits are for the high-profile communities we’re already pretty familiar with, such as Nocatee, Twin Creeks, Shearwater and the like. But a quick look at the St. Johns County development tracker indicates there may be even more new communities coming out of the ground sooner rather than later. [Read more…]