Is residential construction in Florida picking up in 2024? Based on the latest Building Activity Trend Reports from HBW, the outlook is favorable to growth; since the start of this year (thru Q2), there has been a 10 percent year-over-year increase in new home construction, resulting in 56,175 new permits on record with HBW.

From the six regions reviewed (Southwest, West, Central, Southeast, Northwest, Northeast), the greatest volume of new residential construction permits could be found in the West (13,400 permits) where there has been a 10 percent year-over-year increase in residential construction.

When it comes to growth through the second quarter of this year, the northeast exhibited the most significant gains in new home construction, having experienced a 25 percent year-over-year increase in permits (11,200 permits).

Here is a closer look at permit data for new home construction in Florida (by region) through the second quarter of this year:

West

As previously noted, the western region of Florida carried the greatest amount of new residential construction permits (13,400 permits) through Q2, reflecting a 10 percent year-over-year increase in residential construction.  Out of the seven counties that make up the west, more than half of all new home construction took place in Polk (5,000 permits) and Pasco (2,912 permits) with Polk reflecting an impressive 61 percent year-over-year spike in new home construction.

Southwest

Not far behind the west, the southwestern region of Florida ranked #2 for new home construction, having 12,924 new residential construction permits through Q2, reflecting a 16 percent year-over-year increase in new home construction.  Out of the five counties that make up the western region, more than 60 percent of all new permits originated from the two counties of Lee (4,533 permits) and Manatee (3,251 permits).

Northeast

In the northeast, there have been approximately 11,200 new residential construction permits added to the HBW database since the start of this year (thru Q2), reflecting a 25 percent increase in new home construction in comparison to the same period last year.  Out of the eight counties that make up the area, just over half of all new permits originated from the counties of Marion and St. Johns where there were 2,997 and 2,746 permits respectively for the six-month period.

Central

Through the second quarter of this year, there have been more than 7,200 new residential building permits added to the HBW database for Central Florida, reflecting a 13 percent decrease in new home construction in comparison to the same period last year.  Out of the six counties that make up the area, nearly half of all new home construction took place in the two counties of Orange and Brevard where there were 1,769 and 1,621 new permits on record with HBW respectively.

Northwest

Out of the six regions reviewed, the northwest is by far the most expansive, consisting of 16 Florida counties as well as 2 bordering counties in Alabama.  Through the second quarter of this year, there have been approximately 6,320 new residential building permits in the northwest, reflecting a 7 percent year-over-year increase in new home construction.  Out of the 18 counties included in the report, more than 50 percent of all new permits originated from the counties of: Bay, FL (1,147 permits); Santa Rosa, FL (955 permits); Baldwin, AL (720 permits); and Walton, FL (716 permits).

Southeast

Through the second quarter of this year, there have been more than 5,130 new residential construction permits added to the HBW database for the southeastern region of Florida, reflecting a 14 percent increase in new home construction in comparison to the same time last year.  Out of the seven counties that make up the area, more than 60 percent of all new permits originated from the counties of St. Lucie and Palm Beach where there were 1,954 and 1,170 new permits on record with HBW respectively.

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.