Out-of-State Home Buyers Help Fuel Orlando Construction Boom
Posted by Team Donovan on
Construction of new homes in Orlando is booming thanks to an influx of out-of-state residents moving to Florida, low interest rates, and Orlando's renowned attractions. In addition, Orlando’s rental market is tight, with an average vacancy rate of 8.3 percent.
The Construction Boom in Orlando
Dodge Data & Analytics reported new home construction valued at $711 million in Central Florida counties during the month of July, an increase of about 22 percent compared to July 2019.
The boom in construction supports the local economy by creating new job opportunities. That’s good news for home investors looking to buy short-term rental vacation homes in one of the country’s most popular destinations. As Orlando home sales continue to rise, so does the…