For those of us living in the South, we know that the temperatures have been at a high this summer. For those of you who are receiving HBW’s Construction Data Reports, you are already aware of the highs that Florida and Metro Atlanta have been experiencing in new residential construction through the 2nd Quarter of 2015.
According to a recent article in the Wall Street Journal, single-family home sales in Florida were up 19.6% (condos up 14.6%) in June 2015 compared to a year ago. In the article, Florida ranked second (behind California) in volume for primary and secondary homes at Quicken Loans. With the unbearable winter that most northerners experienced this past year, it is no surprise that many of them are on the move and looking for a better winter in Florida.
With the increased demand for housing in the South, there has been a marked increase in new residential construction for various areas of Florida and Metro Atlanta. Based on the latest information pulled from the HBW database, new residential construction is moving in a positive direction.
Through the 2nd Quarter of 2015, every section of Florida and Metro Atlanta have reflected increases in new residential construction (in comparison to 2014). In Florida, Central Florida has experienced a 21% increase in new residential construction through the second quarter (compared to 2014), with a total of 6,130 new homes permitted to be built on record so far. Coming in at 2nd, West Florida has a 4% increase through Q2 with 5,621 new residential permits, and at a close third Southwest Florida is up 20% since 2014 with 5,543 new homes. Neighbors in Metro Atlanta have experienced a 12% increase overall in comparison to the previous year, and Gwinnett County is leading with 1,568 new homes permitted.
If we are to take a glimpse at 2015 residential construction activity alone, we will notice that the year just keeps getting better as every area of Florida and Metro Atlanta have increased activity in Q2 with the exception of Northwest Florida. That being stated, Northwest Florida is still healthy as it maintains consistent levels of residential construction through both quarters, while the major spikes are evident in Metro Atlanta with a 17% increase from Q1 to Q2. Central and Southwest Florida also continued to rise with both reflecting a 15% increase from the first to second quarter of 2015.
For builders in both states, it is useful to know which counties have reflected the highest residential construction activity in 2015 thus far. For this reason, we have used HBW reports to highlight the Top 10 counties in Florida and Metro Atlanta through Q2:
In Florida, Orange County takes the lead through Q2, with 2,745 new homes on record, an increase of 22% compared to 2014. Hillsborough County is a distant second at 1,883 (+19% compared to 2014), and Collier comes in at a close third with a 28% increase and 1,514 new homes permitted.
In Metro Atlanta, Gwinnett County is leading the area with 1, 568 new home permits through Q2 (+5% compared to 2014). Forsyth comes in at second at 1,494 (+10% compared to 2014), and Fulton is at a close third with 1,330 (+23% compared to 2014) new homes. Although Cobb County is down by 48% in comparison to 2014, it shows signs of recovery with a 15% increase in new residential construction from Q1 to Q2.
So, what does all of this information mean to you? Increased construction means more permit information is being added to the HBW database each week. Make sure to get your copy of the latest HBW construction data reports. New construction equals new leads, and new leads are the key to generating new business.
Visit HBWeekly.com or call 1-877-332-1411 for more information.