There are signs that confidence in the Vero Beach housing market is waning a bit with the latest new home construction data. Many analysts are still trying to figure out why housing starts nose-dived in February.
Privately owned housing starts in February plummeted 17%, down to an annualized 897,000 from the revised January estimate of 1,081,000.
Single-family housing starts in February were at a rate of 593,000; this is 14.9% below the revised January figure of 697,000.
Is Weather to Blame for the Vero Beach Housing Downturn?
Some looked at the weather as the primary culprit despite the big drop in the West region, but now thoughts are turning to other factors like whether there's a skilled labor shortage, or whether younger buyers are still staying on the sidelines.
Here is more in this Fox Business News interview with real estate broker Kendra Todd and Avison Young VP Jason Meister…