A review of the latest permit data for new residential construction in Florida during the month of May 2020
Based on the latest construction data reports available from HBW, there was a 16 percent month-over-month decrease in new home construction in Florida last month. During the one-month period, there were 4,750 housing starts with a total construction value of nearly $1.4 billion.
Out of the five regions reviewed (Southwest, Tampa, Orlando, Southeast, Jacksonville), Tampa carried the highest volume of new residential construction (1,252 permits), while the Orlando area had the highest average value of new home construction (average value: $312,097) for the one-month period.
Here is closer look at the total new permits, construction values and leading counties by region for new home construction in Florida during the month May 2020:
Tampa
Last month, Tampa led Florida for new home construction as there were 1,252 new permits with a total construction value in excess of $371 million on record with HBW. More than half of all new construction took place in the counties of Hillsborough (354 permits) and Polk (325), and the average value of construction landed on the higher end of the spectrum in comparison to most other regions reviewed (average value: $296,615).
Orlando
In Orlando, there were approximately 1,120 housing starts with a total construction value greater than $349 million last month. The bulk of new construction took place in the counties of Orange (386 permits) and Volusia (248 permits), and the average value of construction was highest in Orlando (average value: $312,097) in comparison to all other Florida regions reviewed.
Southwest
In the southwestern region of Florida there were more than 865 housing starts with a total construction value of approximately $250.5 million last month. The majority of new home construction took place in the counties of Lee (287 permits) and Manatee (224 permits), and the average value of construction was $289,200.
Jacksonville
Last month, there were approximately 860 housing starts with a total construction value greater than $213 million in the Jacksonville area. The majority of all new residential construction permits originated from the counties of St. Johns (360 permits) and Duval (263 permits), and the average value of new home construction was lowest in Jacksonville (average value: $247,476) in comparison to other Florida regions reviewed.
Southeast
In the southeast, there were more than 650 housing starts with a total construction value of nearly $200 million on record with HBW for the month of May. The bulk of new permits originated from the counties of St. Lucie (271 permits) and Palm Beach (182 permits), and the average value of new home construction landed on the higher end of the spectrum (average value: $304,646) in comparison to other areas reviewed.
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.