A review of the latest construction data based on permits in the HBW database for Florida during the month of October 2019
When reviewing the latest permit data available in the HBW database for Florida last month, we found more than 5,700 new residential construction permits with a total value of approximately $1.6 billion. Out of the five major regions reviewed (Tampa, Southwest, Orlando, Jacksonville, Southeast), Tampa landed the top spot for total housing starts (~1,555 permits), while the higher value residential construction could be found in the Southeast (average value of construction: ~$311k).
Here is a closer look at the total permits, construction value and counties with the highest concentration of new construction in Florida during the month of October 2019:
Tampa
As previously mentioned, Tampa held the highest concentration of housing starts last month in comparison to other Florida areas reviewed. During the month of October, there were approximately 1,555 housing starts with a total construction value of nearly $436 million in Tampa and surrounding areas. The average value of construction was $280.5k, and more than half of all new permits originated from Hillsborough County (539 permits) and Polk County (442 permits).
Southwest
The southwestern region of Florida ranked second for new home construction, having more than 1,415 housing starts with a total construction value of nearly $358.5 million last month. The average value of new home construction landed on the lower end of the spectrum in comparison to other Florida regions (average value of construction: $253k), and just over half of all new permits originated from the counties of Lee (418 permits) and Sarasota (327 permits).
Orlando
In Orlando, there were approximately 1,110 housing starts with a total construction value of $330 million last month. The average value of new construction landed on the higher end of the spectrum in comparison to other regions reviewed (average value of construction: $301k+), and the county with the greatest concentration of new residential construction activity was Orange County (380 permits).
Jacksonville
Jacksonville and surrounding areas had nearly 870 housing starts with a total construction value of $213.5 million last month. The average value of new home construction was lowest in Jacksonville (average value of construction: $246k) in comparison to other Florida regions reviewed, and bulk of new residential construction activity took place in the counties of St. Johns (366 permits) and Duval (248 permits).
Southeast
Last month, there were approximately 770 housing starts with a total construction value of $239 million in Southeast Florida. The average value of construction was highest in the southeast (average value of construction: ~$311k) in comparison to other Florida regions, and the majority of new permits originated from the counties of Palm Beach (254 permits) and St. Lucie (186 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.