Tampa new home market shows signs of growth

The new home market in Tampa, Fla., is showing signs of life as MI Homes has begun construction on a 31-lot site, the Seminole Beacon reported.

The Kensington Isle gated community was originally supposed to break ground in 2007 but construction was halted when the market collapsed. However, MI Homes recently purchased the property and will begin building houses. Homes in the community will range from $269,990 to $345,790 and include energy-saving features and three car garages.

Home sales in the region were down 18% in October compared to the previous month and 26% from a year ago.