Kanopy Homes is a full-service residential development company which assists buyers in the SW Florida real estate market with everything from lot selection to property management. Led by Michael Heiderman and Fred Benoit, the company has a combined 30+ years of experience and expertise in real estate and construction.
In this market report, Kanopy Homes explores the dynamic nature of Southwest Florida—a region with staggering population growth, increased pending home sales, and a strong forecasted new-home market.
Additionally, the report provides insights into customising your new-build home. And lastly, as we embrace the summer season, the Kanopy team has put together a list of what we love most about living in Florida during these warm months.
Updates from the Construction Industry
The current state of the Southwest Florida construction industry is characterised by a wide range of projects in various sectors including residential, commercial, hospitality, and infrastructure. The region’s growing population, coupled with its attractive climate, has fuelled significant demand for new homes. As a result, residential construction remains a key driver of the industry.
With an influx of new residents, the need to make improvements to the state’s infrastructure arises. The President and CEO of Central Florida’s Associated Builders and Contractors, Michele Daugherty, was commenting on the backlog of current work and the impact that these backlogs will have in terms of delaying infrastructure projects.
There are more and more infrastructure dollars coming up federally and at the state level, and those projects could see a delay if we’re not able to address the shortage.
News in the Real Estate Market
Although Florida’s population growth was spurred by the pandemic, it continues to surge as evidenced by the staggering number of driver’s licenses being exchanged for Florida licenses— more than 500,000.
The real estate market reflects this trend. Home listings saw a notable decrease, indicating a competitive market. However, the demand remains strong, as indicated by the 11% rise in pending home sales from 2022 to 2023.
In line with these promising indicators, the Associated Press wrote that Wall Street analysts forecast a “robust new home market,” pointing to the steady growth and appeal of Florida as a prime destination for homebuyers. As the state continues to attract newcomers, the real estate landscape adapts to meet the evolving needs and preferences, highlighting the enduring desirability of calling Florida home.
Keeping Up With Kanopy
Although Southwest Florida is known for being the place snowbirds land for the winter, staying year-round has its advantages. The team at Kanopy has compiled a brief list of their favourite parts of summer in SWFL.
Since summer is considered the “off-season,” there are fewer tourists, less traffic, and a better chance of getting into our favourite restaurants. Getting to and from our construction sites takes significantly less time during the summer with fewer people travelling, and the sunset later in the day provides more time to spend with the family at the beach after work.
If you are working with Kanopy for a personal residence, you are likely planning to enjoy these summers as much as we do. While the benefits of living in Southwest Florida are undoubtedly enticing, prospective buyers and homeowners are eagerly customising their dream spaces to ensure their new home is perfectly tailored to their preferences.
From modern design elements to selecting premium finishes, edits to the spec sheet of a new-build home offer endless possibilities for creating a space that perfectly complements the vibrant Southwest Florida lifestyle.
If you’d like to own a single-family home and capitalise on the SW Florida real estate market, view properties by Kanopy Homes.