Florida Residential Construction Review – June 2020

A review of new residential construction in Florida based on permit data added to the HBW database during the month of June 2020

Last month, Florida experienced a 38 percent month-over-month surge in new home construction – Across the five major regions of Florida (Southwest, Tampa, Jacksonville, Orlando, Southeast) there were more than 6,570 housing starts with a total construction value of nearly $1.8 billion during the month of June 2020.  Out of the five regions reviewed, Tampa carried the greatest volume of new residential construction (1,601 permits), while the highest average value of construction could be found in the southeastern region of the state (average value: $312,795).

Here is a look at the breakdown of new home construction in the Sunshine State by region, inclusive of total permits, construction values, and leading counties for the month of June 2020:

Tampa

As previously noted, the Tampa area held the highest concentration of housing starts out of the five Florida regions reviewed, having just over 1,600 new permits with a total construction value of approximately $450 million on record with HBW during the month of June.  More than half of all new construction took place in the counties of Polk (522 permits) and Hillsborough (485 permits), and the average value of new home construction was $280,877.

Orlando

In Orlando, there were more than 1,475 housing starts with a total construction value of nearly $429 million last month.  The average value of new home construction landed on the higher end of the spectrum (average value: $290,581) in comparison to the other regions reviewed, and the county with the greatest concentration of new residential construction activity for the one-month period was Orange County (532 permits).

Southwest

Not far behind Orlando, the southwestern region of Florida had approximately 1,440 new residential construction permits with a total value of nearly $358 million on record with HBW for the month of June.  The average value of new home construction was close to $249k, and the majority of permits originated from the counties of Lee (475 permits) and Sarasota (359 permits).

Southeast

Last month, there were more than 860 housing starts with a total construction value of nearly $270 million in Southeast Florida.  As previously noted, the average value of new home construction was highest in the southeast (average value: $312,795) in comparison to other Florida regions reviewed, and the bulk of all new residential construction activity took place in the counties of St. Lucie (342 permits) and Palm Beach (296 permits).

Jacksonville

In the Jacksonville area, there were approximately 1,195 housing starts with a total construction value of nearly $265 million on record with HBW last month.  The average value of new home construction was lowest in Jacksonville (average value: $222,077) in comparison to other regions reviewed, and the majority of all new permits originated from the counties of St. Johns (464 permits) and Duval (438 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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