Breaking Regional Economic News

Cape Coral New Construction permits rose by 36% for 2012

[Excerpts taken from the Cape Update publication]

This fiscal year there have been 329 single family home permits pulled.  A year ago same time, there were only 217. The really big number to look at is the the median price for a home is our area has risen by about 19%…with most of the increases coming from traditional sellers, as opposed to distressed property sales.

Permits issued for the construction of duplexes totaled 6. This may seem low to a casual observer, but these are the very first ones issued since 2008! Yes…2008!

Permits issued for commercial construction totaled 8. Down from the same time last year at 13. However, 129 permits were issued this year for remodeling of existing commercial buildings. This means that renewed excitement in the return of commercial activity among retailers is a big confidence builder in our market.

The portions of Pine Island road between Chiquita Blvd. and Burnt Store road will see road widening construction in 2013. The Florida Dept. of Transportation is busy acquiring right of way for the project, at this time. Bidding for the work will be in April 2013 and actual construction will begin in July of 2013.

Lee County unemployment figures.Unemployment

More good news for Lee County. Lee County unemployment dropped from 9.2 % to 8.7%. This is especially a good number since we are into the period of time that retailers hire part and full time staff for holiday buying. These new hires will if part time may be let go after the first of the year, but some no doubt will remain as the cost of a part time employee is far less expensive that a full timer with benefits. Hopefully as the trend in new construction takes place, more workers will be hired in that sector.

Charlotte and Collier Counties un-employment rate has also lowered as well. Charlotte county is currently 8.4% and Collier county is 8.1%. It appears to me that all of SW Florida is seeing a dip in the numbers of un-employed workers. On the negative side, remember that these numbers do not reflect the number of self-employed, rather only hourly and salaried workers.

Cape Coral 511 traffic alerts now available.CameraImage

Something new for Cape residences is the 511 traffic information system. Travelers can now dial 511 or visit FL511.com on the web and register for My Florida 511 personalized services. The system includes crashes, congestion on the roadways, construction delays, and of course emergency evacuation information.

The Internet site includes the same information as the call in line. If your using your smart phone for this information, there may be a charge for minutes used. By setting up your personalized services, you can enter you favorite routes you take, and get pinpoint information for that route. You also can get this personalized information as a text message as well.

The Florida 511 system also reports on all interstate highways, toll roads as well. Check it out, especially those commuters who have long drives to their destinations.

These improvements will aid in the future growth of our area, and attract incoming buyers who want to settle in owner friendly cities.

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By | 2012-12-10T20:27:27+00:00 November 23rd, 2012|Cape Coral, Fort Myers, News, Real Estate|0 Comments

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