A review of permit data for residential construction in Florida from January through June 2020
Since the start of this year (thru Q2-2020), Florida has experienced a 12 percent year-over-year surge in new residential construction, resulting in approximately 45,560 new permits on record with HBW. Out of the six regions reviewed (Central, West, Southeast, Southwest, Northeast, Northwest), five demonstrated year-over-year increases in new home construction ranging from 8 percent (West Florida) to 19 percent (Northwest Florida). The only area that is slightly behind last year’s figures is Southeast Florida with a 2 percent year-over-year decrease in new permitting activity.
Here is a closer look at total permits and leading counties for each Florida region at the mid-year point:
With more than 10,450 housing starts through the second quarter of this year, the western region of Florida is carrying the highest level of new residential construction activity in comparison to other Florida regions reviewed. Since 2016, the area has exhibited annual increases in new home construction ranging from 9 percent to 23 percent, and since the start of this year (through June 2020) western Florida is ahead last year’s figures by 8 percent. In the first half of 2020, more than 57 percent of all new home construction took place in the counties of Hillsborough (3,123 permits) and Polk (2,898 permits) with both counties experiencing year-over-year increases in new permits of 11 percent and 10 percent respectively.
Since the start of this year (thru Q2-2020), the southwestern region of Florida has experienced a 14 percent year-over-year increase in housing starts, resulting in approximately 8,460 new permits on record with HBW. Out of the five counties factored into the equation, Lee County carried the highest volume of new construction activity with more than 2,770 new permits, reflective of a 35 percent year-over-year increase in housing starts.
The northeastern region of Florida ranked #3 for new home construction having a 17 percent year-over-year increase in housing starts that resulted in nearly 7,800 new permits through Q2-2020. Out of the eight counties reviewed, more than half of all new home construction took place in Duval (2,393 permits) and St. Johns (2,226 permits), with both areas demonstrating year-over-year increases of 19 percent and 7 percent respectively.
In the first half of this year, the Central Florida area experienced a 9 percent year-over-year increase in housing starts, resulting in more than 7,230 new permits on record with HBW. Out of the six counties reviewed, Orange County held the highest concentration of new home construction (2,287 permits), while Lake County demonstrated the greatest year-over-year increase (+122%) in residential construction.
In the northwestern region of Florida, there were nearly 6,690 housing starts through the second quarter of this year, reflecting a 29 percent year-over-year increase in new home construction. Out of the 18 counties reviewed, two of which are on the Alabama border (Mobile and Baldwin), more than 56 percent of all new construction originated from the counties of Baldwin (1,491 permits), Santa Rosa (1,345 permits) and Escambia (944 permits).
The southeastern region of Florida was the only area out of six reviewed to show a slowing in new home construction. Since the start of this year (through June 2020), the area has demonstrated a 2 percent year-over-year decrease in housing starts, resulting in approximately 4,935 new permits being added to the HBW database. Out of the seven counties reviewed, the bulk of new home construction took place in St. Lucie (1,905 permits) and Palm Beach (1,287 permits), with both areas experiencing year-over-year increases in new residential construction permits ranging from 14 percent to 17 percent 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.