Out of the close to 4,700 housing starts last month, D.R. Horton and Lennar Homes were shining in the Sunshine State.
Earlier this week, we took a look at housing starts on file throughout Florida in February, and with an 8% month-over-month increase, home building in Florida just keeps getting better. With the rise in total permits each month, so have builders seen an increase in their project load. From Jacksonville to the southernmost points of Florida, D.R. Horton led new residential construction for the month, having the highest concentrations of starts in Tampa, Orlando and Jacksonville. Based on new permits added to the HBW database, the top builders for the month were as follows:
- D.R. Horton – Having approximately 660 permits and more than $150M in total construction value, D.R. Horton ranked #1 statewide and in 3 out of 5 major regions reviewed.
- Lennar Homes – Coming close to D.R. Horton, Lennar Homes had just about 555 housing starts and a total construction value in excess of $133M added to the HBW database last month. Although the home builder was active in all five major regions, Lennar Homes had the greatest amount of new residential construction in Orlando, Tampa and Southeast Florida.
- Pulte Homes – Ranking third highest for total housing starts across the state, Pulte Homes had close to 230 housing starts with a total value close to $61M. Pulte Homes had steady construction activity in every major region reviewed, and the highest concentration of starts for the home builder took place in the southwest region.
When sorting through new permits from a regional perspective, the lineup of top builders has its variations. While D.R. Horton ranked #1 based on total permits throughout the State, builders like Neal Communities rose to the top in the southwest, and Lennar Homes led the charts in the southeast. Here’s a closer look at leading builders by region:
With 131 housing starts and close to $26M in construction last month, Neal Communities topped the charts in the southwest portion of Florida. D.R. Horton was next in line with 97 starts and $22.5M in total value, and Pulte Homes was close behind with 90 housing starts and $22M in value for the one-month period. Out of the top five builders, Pulte Homes had the highest average value of construction at approximately $244k, with the majority of construction taking place in Manatee County.
D.R. Horton dominated new residential construction in Jacksonville, having nearly 160 housing starts and approximately $25M in total value. Lennar Homes came in a distant second with 65 starts and more than $17M in construction value, while KB Homes was third highest with 50 starts and just over $7M in total value for the month. Out of the top five home builders in the area, Lennar Homes held the highest average value of construction at more than $265k, while KB Homes had the lowest average value of construction at $140.5k.
The mega-builder, D.R. Horton, also led residential construction in Tampa last month. With 135 housing starts and just about $30.5M in total value, D.R. Horton was at the top of the charts. Although the company had new construction activity in several Jacksonville counties, the highest concentration could be found in Polk County. Coming in at a close second, Lennar Homes had 132 housing starts with a total value in excess of $35M, with the bulk of construction taking place in Hillsborough and Pasco counties. Ranking third highest was Standard Pacific Homes; with 59 starts and nearly $18M in construction value, Standard Pacific was most active in Pasco and Hillsborough counties as well. Out of the top five home builders listed, Taylor Morrison was the leader for average value of new construction at more than $355k.
While D.R. Horton ranked #1 in Orlando with 179 housing starts and more than $51M for the month, Lennar Homes held very close with 177 housing starts and nearly $33M in total value. D.R. Horton’s greatest concentration of new homes was in Brevard County, while Lennar Homes was primarily active in Orange and Osceola counties. At third highest for the month, Meritage Homes had 52 housing starts and more than $19M in construction value. The highest average value of construction from the top five contractors was held by Taylor Morrison at just over $409k.
In the southeast region, Lennar Homes came out on top with 105 housing starts and a total value in excess of $33M. Lennar was most active in Miami-Dade County last month, where the majority of the home builder’s new permits took place. D.R. Horton wasn’t far behind as the company had 91 housing starts and just about $21.5M in construction. While D.R. Horton was also active in Miami-Dade, new activity was evenly distributed between Miami-Dade and Indian River counties. Pulte Homes pulled in at a distant third with 34 starts and close to $12M in total construction value, with the majority of construction taking place in the northernmost counties. When reviewing the top five builders’ construction values, GL Homes was #1 for average value at $407.5k.
Information utilized for the graphs and above listed figures for Florida residential construction was directly derived from HBW 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.