HBW report on Florida housing starts in 2017
Since 2014, Florida has been experiencing a steady and healthy climb in new residential construction. Last year, the Sunshine State had a 14% year-over-year increase in housing starts, resulting in nearly 73,000 new residential construction permits added to the HBW database throughout the year.
Areas that saw the greatest spikes in new home construction last year include Southeast (7,879 permits) and West (15,952 permits) Florida with year-over-year increases of 27% and 23% respectively. Both areas have been climbing year after year since 2014, with 2017 seeing the greatest increase in residential construction activity in three years.
Out of the six major regions reviewed (Central, West, Southeast, Southwest, Northeast, Northwest), the highest concentration of new construction took place in West Florida (15,952 permits) and Central Florida (15,028 permits). In Central Florida, more than half of all housing starts originated from Orange (5,978 permits) and Osceola (3,176) counties; that being stated, in Brevard County residential construction has been on the rise and increasing since 2012, with 2017 reflecting a substantial 37% year-over-year increase.
In West Florida, Sumter County was nearly off the charts with its increase in housing starts. Sumter appears to be coming out of a lull in home building. From 2014 to 2016, the area experienced significant dips in housing starts year after year. In 2017, the area saw a turn for the better; with a 91% year-over-year increase in new residential construction permits, Sumter County had more than 1,655 housing starts and should be an area to watch this year. The highest concentration of new residential construction in West Florida could be found in the counties of Hillsborough (4,847 permits, +9%) and Polk (4,076 permits, +20%)
Here is a closer look at new residential construction permit totals and increases in activity from 2016 to 2017:
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.