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House Prices Soar

By: April Douglas
By: April Douglas

The cost of building a home in Florida is on the rise. Industry officials say hurricanes are to blame for driving up the price, but that isn't the only factor.

The Florida Home Builders Association says limited land puts construction prices over the top. They say Katrina is a small part. It did add an estimated 10 percent to the cost of supplies that were already in short supply and high demand.

But locally, that's one piece of the puzzle.

Paul Thompson says, "Bigger picture in Tallahassee. Just don't have that many places to build new homes sites available. Overall price of home, 33 percent, is in cost of land."

Paul Thompson with the Florida Home Builders Association says nationwide prices have gone through the roof. When comparing 2004 to 2005, the price of a home jumped 13 percent. That's biggest increase in 25 years.


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