An overview of permit data for new residential construction in Florida through Q3-2022
Year after year, HBW has consistently reported marked annual increases in new home construction across the Sunshine State. Since 2018, Florida has reflected year-over-year increases in residential construction permits ranging from a low of 2 percent (2019) to a high of 32 percent (2021), but so far this year the market appears to be slowing, at least in some areas.
Overall, Florida has experienced a 1 percent decline in new home construction through the third quarter of this year, resulting in approximately 99,370 new permits on record with HBW. And while the change in new permitting activity is minor, it is certainly a sign of some slowing in comparison to previous years. More specifically, regions including the northern and southeastern portions of the state have exhibited year-over-year declines in new home construction ranging from -2 percent (Northeast) to -13 percent (Southeast). On the flip side, the western and central portions of the state appear to have more stability with year-over-year growth ranging from +2 percent (Southwest) to +4 percent (Central).
Here is a closer look at the total permits and leading counties for new residential construction by Florida region through Q3-2022:
Since the start of this year (thru Q3), there have been approximately 23,500 new residential construction permits added to the HBW database for Southwest Florida; this reflects a 2 percent year-over-year increase in new home construction. Out of the 5 counties that make up the region, more than half of all new construction activity took place in Lee County (7,536 permits) and Manatee County (5,061 permits).
Much like the southwestern region of Florida, the West carried more than 23,000 new residential construction permits through the third quarter of this year; this figure reflects a 3 percent year-over-year increase in new permits. Out of the seven counties that were included in the area report, more than half of all new permits originated from the two counties of Polk (6,664 permits) and Hillsborough (5,337 permits).
Through the third quarter of this year, the Northeast ranked #3 for new home construction as there have been 18,740 new permits added to the HBW for the region. Out of the eight counties that make up the area, the majority of all new permits originated from the three counties of St. Johns (4,563 permits), Marion (4,533 permits), and Duval (4,410 permits).
In Central Florida, there have been 15,355 new residential construction permits added to the HBW database through Q3-2022, reflecting a 4 percent year-over-year increase in new home construction. Out of the six counties included in the area report, the bulk of new permits originated from the three counties of Orange (3,605 permits), Lake (3,245 permits), and Brevard (3,185 permits).
In the northwestern region of Florida, there have been approximately 10,080 new residential construction permits on record through the third quarter of this year. Out of eighteen counties (16 Florida, 2 Alabama) included in the regional report, more than half of all new home construction took place in the three counties of Baldwin, AL (2,070 permits), Bay (1,932 permits), and Escambia (1,407 permits).
Through the Q3-2022, the southeastern region of Florida carried the lowest level of new home construction, having 8,678 new permits on record and demonstrating a 13 percent year-over-year decline in residential construction activity. Out of the seven counties that make up the area, the majority of new permits originated from the two counties of St. Lucie (3,693 permits) and Palm Beach (1,714 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.