A review of the latest permit data for new residential construction in Florida during the month of February 2020

Last month, there were 5,665 housing starts with a total construction value in excess of $1.5 million added to the HBW database for Florida, reflecting a 4 percent month-over-month decrease in new home construction.  Out of the five major regions reviewed (Southwest, Southeast, Tampa, Orlando, Jacksonville), Tampa held the highest concentration of new residential construction permits (1,690 permits), and Orlando carried the highest average value of new home construction (average value: $313,108).

Here is a closer look at the total housing starts, average construction value and leading counties for new home construction in Florida’s five major regions:

Tampa

Tampa ranked #1 in Florida for new home construction last month as there were 1,690 housing starts with a total construction value of nearly $485 million.  The average value of construction was $286,782, and more than half of all new permits originated from the counties of Hillsborough (479 permits) and Pasco (434 permits).

Southwest

In the southwestern region of the state, there were 1,335 housing starts with a total construction value in excess of $314 million last month.  The average value of new home construction landed on the lower end of the spectrum (average value: $235,265) in comparison to other Florida regions reviewed, and the county with the highest concentration of new home construction activity for the one-month period was Lee with 439 new residential construction permits.

Orlando

The Orlando area ranked #3 for new home construction, having approximately 1,085 housing starts with a total construction value in excess of $339 million last month.  The average value of new home construction was highest in Orlando (average value: $313,108) in comparison to other Florida regions reviewed, and nearly half of all new residential construction permits originated from the counties of Lake (267 permits) and Orange (261 permits).

Jacksonville

Last month, there were more than 890 housing starts with a total construction value of nearly $203.5 million in the Jacksonville area.  The average value of construction was lowest in Jacksonville (average value: $228,234) in comparison to other Florida regions reviewed, and the county with the highest concentration of new home construction activity was Duval County (382 permits).

Southeast

During the month of February, the southeastern region of Florida carried the lowest amount of new home construction activity in comparison to other Florida regions reviewed; during the one-month period, there were 665 housing starts with a total construction value in excess of $204 million; the average value of new home construction landed on the higher end of the spectrum (average value: $307,269), and the county with the highest concentration of new residential construction permits was St. Lucie County (240 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.