A review of permit data for new residential construction in Florida through Q3-2020
Since the start of this year (thru Q3-2020), Florida has experienced a 12 percent year-over-year increase in housing starts, resulting in approximately 70,650 new residential construction permits added to the HBW database. Out of the six Florida regions reviewed (Southwest, Southeast, Northwest, Northeast, West, Central), all areas have experienced year-over-year gains in new home construction ranging from 3 percent (Southeast) to 21 percent (Northwest), and nearly 60 percent of all new permits statewide originated from the three regions of West (15,937 permits), Southwest (12,902 permits), and Northeast (12,647 permits) Florida.
Here is a closer look at the total permits, leading counties and year-over-year growth in new residential construction in each of the six Florida regions reviewed through the third quarter of this year:
Out of the six regions reviewed, the greatest concentration of housing starts could be found in the western region of Florida where there has been a 4 percent year-over-year increase in new home construction, resulting in 15,937 new permits on record with HBW. The counties with the highest level of new home construction activity include: Polk (4,920 permits); Hillsborough (4,315 permits); and Pasco (3,281 permits).
In the southwestern region of Florida, there has been an 11 percent year-over-year increase in new home construction since the start of this year (thru Q3-2020), resulting in more than 12,900 new permits on record with HBW. Out of the five counties reviewed in the area, the highest concentration of housing starts originated from Lee County (4,243 permits) where there has already been a 26 percent year-over-year increase in new permitting activity through the third quarter of this year.
Since the start of this year (thru Q3-2020), the northeast region of Florida has experienced a 17 percent year-over-year increase in new residential construction, resulting in nearly 12,650 new permits. Out of the eight counties that make up the northeast region, more than half of all new construction activity took place in the two counties of Duval (4,261 permits) and St. Johns (3,341 permits), where there were year-over-year increases in housing starts of 30 percent and 6 percent respectively.
In Central Florida, there has been a 16 percent year-over-year increase in new home construction so far this year, resulting in more than 11,540 new permits on record with HBW. Out of the six counties reviewed, the greatest concentration of new housing starts could be found in the counties of Orange (3,673 permits) and Lake (2,002 permits).
Through the third quarter of this year, the northwestern region of Florida has demonstrated the greatest percentage of annual growth in the market, having approximately 10,010 housing starts with a 21 percent year-over-year increase in new residential construction permits. Out of the eighteen counties reviewed (inclusive of bordering counties in Alabama), the majority of all new home construction took place in the four counties of Baldwin, AL (2,265 permits), Santa Rosa (1,776 permits), Escambia (1,462 permits) and Bay (1,151 permits).
In the southeastern region of Florida, there has been a 3 percent year-over-year increase in housing starts through the third quarter of this year, resulting in 7,613 new residential construction permits on record with HBW. Out of the seven counties reviewed, more than half of all new permits originated from the two counties of St. Lucie (3,002 permits) and Palm Beach (1,888 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.