Since the start of this year (thru Q2-2023), Florida has exhibited a 28 percent year-over-year decrease in new residential construction, resulting in 50,920 new permits on record with HBW. Out of the six regions reviewed (Central, West, Southeast, Southwest, Northeast, Northwest), all of them demonstrated year-over-year declines in new home construction ranging from -16 percent (Northwest) to -34 percent (Southwest Florida), with West Florida carrying the highest level of new construction activity (12,154 permits)
Here is a closer look at total permits and leading counties for each Florida region at the mid-year point:
West Florida
As previously noted, the western region of Florida carried the greatest amount of new residential construction permits (12,154 permits) through Q2, as well as demonstrated a 27 percent decrease in new permits in comparison to the same time last year. Out of the seven counties that make up the western region, more than half of all new home construction took place in the counties of Pasco (3,366 permits) and Polk (3,112 permits).
Southwest Florida
Not far behind the western region, Southwest Florida ranked #2 for new home construction, having 11,136 new permits through Q2, reflecting a 34 percent year-over-year decrease in new residential construction. Out of the five counties that make up the area, just over half of all new permits originated from the two counties of Lee (3,588 permits) and Manatee (2,367 permits).
Northeast Florida
In the northeast, there have been 8,924 new residential construction permits added to the HBW database since the start of this year (thru Q2), reflecting a 33 percent year-over-year decrease in new home construction. Out of the eight counties that make up the area, nearly half of all new permits originated from the counties of St. Johns and Marion where there were 2,249 and 2,144 permits on record respectively for the six-month period.
Central Florida
Through the second quarter of this year, there have been 8,270 new residential construction permits added to the HBW database for Central Florida, reflecting a 25 percent decrease in new home construction in comparison to the same period last year. Out of the six counties that make up the area, more than half of all new home construction took place in the two counties of Orange and Brevard where there were 2,270 and 2,183 new permits on record with HBW respectively.
Northwest Florida
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 5,920 new residential construction permits in the northwest, reflecting a 16 percent year-over-year decrease in new home construction. Out of the 18 counties included in the report, nearly half of all new permits originated from the counties of Bay, FL (1,177 permits), Baldwin, AL (908 permits), and Escambia, FL (684 permits).
Southeast Florida
Through Q2-2023, there have been 4,516 new residential construction permits added to the HBW database for the southeastern region of Florida, reflecting a 23 percent decrease 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 1,851 and 917 new permits on record 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.