Is Florida poised for a housing construction boom?

A number of analysts are claiming now is the time to begin investing in a new home. While the market is still reeling from the effects of the recession, interest rates are at record lows and supply is abundant. However, experts are claiming that the market is especially ripe for new home construction estimating.

John Rymer, a Tampa, Florida-based residential real estate consultant, says the next 12 months are likely to offer homebuyers and investors the most ideal opportunities for new housing construction in a decade. Contractors have slowed their rate of residential building, and this diminished supply will eventually catch up to demand and cause prices to rise, he says.

The Florida housing sector was one of the hardest hit by the recession. High foreclosure rates and weak demand have plagued the state for years now. But with recent signs of recovery, analysts are pointing to states like Florida as areas of solid potential.

"For Florida buyers, and particularly those on the Treasure Coast, one of the biggest advantages of buying a new construction home is compliance with the 2004 hurricane protections codes that require roofs, impact glass windows and doors to be reinforced to withstand hurricane-strength winds," reports real estate firm Ironshore. "And that is a major consideration for today's buyers."