Florida Residential Construction Review – February 2024 

Last month, Florida exhibited a 20 percent month-over-month decrease in new home construction activity, having approximately 6,500 new residential construction permits with a total value of $2.15 billion on record with HBW. 

When reviewing HBW’s latest construction data reports to identify areas with the highest volume of housing starts, Tampa took the lead with just over 1,900 new permits and a total construction value of $580 million.  Not far behind Tampa, the southwestern region of the state ranked second for new home construction, having approximately 1,660 new permits with a total construction value of nearly $532 million for the one-month period. Here is a look at the total permits by region:

Out of the five major Florida regions reviewed (Tampa, Southwest, Jacksonville, Orlando, Southeast), the highest average value of new home construction could be found in the Southeast (average value: $433,841), while the lowest average value of construction could be found in Jacksonville (average value: $286,742).  The three other regions’ average value of new home construction landed within the range as follows: 

Orlando – average value: $356,117

Southwest – average value: $320,481

Tampa – average value: $ 305,103

When reviewing HBW’s reports to identify counties that held the greatest concentration of new home construction activity last month, Tampa and Southwest area counties were standouts, with Jacksonville area counties also carrying higher concentrations of new permitting activity.  Out of the five regions reviewed, the top five Florida counties for total new residential construction permits last month are as follows: 

1-Polk County (Tampa area): 920 permits 

2-Lee County (Southwest): 909 permits 

3-Manatee County (Tampa): 415 permits

4-St. Johns County (Jacksonville): 405 permits 

5-Hillsborough County (Tampa): 391 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.

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