Florida Residential Construction Review – August 2018

A report on residential construction activity in the Sunshine State during the month of August.

Despite the 18% month-over-month dip in housing starts last month, Florida still had a sizable amount of new home construction permitting data on file.  During the one-month period, there were approximately 5,770 new residential construction permits added to the HBW database.  Out of the five major regions reviewed (Southwest, Orlando, Tampa, Jacksonville, and Southeast), the greatest concentration of housing starts took place in the southwest region (1,382 permits), and the highest average value of new construction could be found in the southeast region (average value: $337,669).

When looking at the leading builders statewide, D.R. Horton ranked #1 for total new permits in every region with the exception of Tampa, where Lennar Homes took top spot.  Here is a closer look at new home construction throughout Florida and by region:

Southwest

The Southwest ranked #1 statewide for total new residential construction permits on file with HBW.  Last month, there were 1,382 housing starts with a total construction value in excess of $342.5M.  The average value of new construction was on the lower end of the spectrum coming in close to $248k, and the county with the greatest total number of housing starts was Lee County (441 permits).  Out of the 240 active builders on file for the one-month period, the following ranked as the top three for total new permits:

#1 – D.R. Horton (264 permits)

#2 – Lennar Homes (187 permits)

#3 – Pulte Homes (123 permits)

Orlando

Last month, the Orlando area had 1,285 housing starts with a total construction value of just over $397M.  The average value of new home construction was on the higher end of the spectrum (average value: $309k), and the counties with the greatest concentration of housing starts included Orange (526 permits) and Volusia (339 permits). Out of the 170+ active builders on file for the one-month period, the following took top spots for total new permits:

#1 – D.R. Horton (160 permits)

#2 – Meritage Homes (111 permits)

#3 – Lennar Homes (108 permits)

Tampa

In Tampa, there were approximately 210 active builders on file for the month, resulting in 1,191 new permits with a total construction value of nearly $343.5M.  The average value of construction was just over $288k, and the bulk of new permits originated from the counties of Hillsborough (476 permits) and Polk (314 permits).  Lennar Homes took top spot for total new permits on file, and the top three builders for the one-month period are as follows:

#1 – Lennar Homes (164 permits)

#2 – D.R. Horton (134 permits)

#3 – M/I Homes (73 permits)

Jacksonville

There were just about 150 active builders in Jacksonville last month, resulting in 1,068 new residential construction permits with a total value of $251.5M added to the HBW database.  The average value of construction was lowest in Jacksonville in comparison to the other regions reviewed coming in at $235.5k, and the majority of new permits originated from the counties of St. Johns (408 permits) and Duval (326).  The top home builders for total new permits on file for the one-month period are as follows:

#1 – D.R. Horton (176 permits)

#2 – Lennar Homes (109 permits)

#3 – Dream Finders Homes (101 permits)

Southeast

In the Southeast, there were 180 active builders on file for the month of August, resulting in 842 new residential construction permits with a total value in excess of $284M. The average value of construction was highest in the southeastern region in comparison to other areas reviewed (average value: $337,669), and the county with the greatest amount of housing starts was the northernmost county of St. Lucie (275 permits).  As with most areas, D.R. Horton ranked #1 for total new permits for the one-month period, and the top three builders were as follows:

#1 – D.R. Horton (78 permits)

#2 – Pulte Homes (63 permits)

#3 – Lennar Homes (55 permits)

To gain more information on the builders, homeowners and permits for the construction activity above, check out HBW for your copy of the latest construction data reports. To gain access to the HBW database and receive custom and detailed reports on the latest residential and commercial building activity in Florida, Georgia, Texas, Alabama, and Oklahoma, please contact HBW for details.

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