D.R. Horton continues to lead residential construction in Florida with more than 630 housing starts on file for February.
For those of you who read our Florida Residential Construction Report last week, you are already aware of the 19% increase in housing starts in Florida since January. With close to 4,800 new Florida residential construction permits added to the HBW database last month, it is a great time to identify and recognize the top builders. From Orlando, Tampa, Jacksonville, Southwest and Southeast Florida, there were three builders who led the bulk of new residential construction:
#1 – D.R. Horton
#2 – Lennar Homes
#3 – Pulte Homes
D.R. Horton led new residential construction in Florida for all of 2015, and in February it continued to lead the state with 632 starts. The company did not just dominate statewide, but when isolating activity by region, D.R. Horton took the #1 spot in four out of 5 of the regions, and was #2 in the southwestern portion of the state.
Coming in at second highest for housing starts, Lennar Homes had 320 new residential permits on file for February. Lennar was in the top five list in four out of five of the regions (see graphs below), and was #2 in Tampa and Orlando just behind D.R. Horton. In the #3 spot, Pulte Homes had 292 housing starts in February throughout Florida. Pulte was most active in the southwestern portion of the state, taking the #1 spot there with 150 permits on file for the month.
With Florida being expansive, there are many builders who are most active in specific regions. Although they may not make the top three for statewide activity, there are many builders who focus and are successful in their primary areas of service. For this reason, we used HBW permit reports to gain a closer look at the top builders by region.
As previously mentioned, D.R. Horton was #1 for total housing starts in every region aside from the southwest. In Orlando, D.R. Horton led with 132 new residential permits on file for the month and a total value in excess of $37.6 million. Lennar Homes was second highest with 75 starts and more than $13.6 million in total value. Close behind, Meritage Homes took the third spot with 72 starts and nearly $25.9 million in total construction value.
Pulte Homes took the #1 spot in SW Florida with 150 housing starts and nearly $36.6 million in total new construction value. Pulte was most active in three counties for the month: Manatee, Lee and Collier. D.R Horton held second in the SW with 97 new residential construction permits and a total value close to $24.3 million. Taking #3 for the month, WCI Communities was active with 69 housing starts for the month and a total value in excess of $16.4 million.
D.R. Horton had new residential construction activity in nearly every county in the SE with 122 starts on file for the month and nearly $40 million in total construction value. Galloway Contractors and Builders took #2 in the SE with 87 housing starts and close to $29 million in total value. In the #3 spot, GL Homes had 60 starts for the month and just under $21.6 million in total value.
In Jacksonville, D.R. Horton had a strong hold on the lead with 166 starts for the month and close to $26.2 million in total construction value. Holding in the second spot for residential construction starts, Dream Finders Construction had 86 new permits for the month and nearly $19.8 million in total value. Not far behind, Lennar Homes held in at third highest with 84 starts in February and more than $20.5 million in total value.
The top two builders leading in Tampa had new residential construction taking place in three counties: Hillsborough, Pasco and Polk. D.R. Horton held the #1 spot for total new permits with 115 starts and more than $27 million in construction value. Lennar Homes was close behind and held second highest with 96 starts and a total value in excess of $21.4 million. Coming in at #3, The Villages of Lake Sumter had 68 housing starts for the month and a total value close to $23 million.
Information utilized for the graphs and above listed figures was directly derived from HBW builder data reports. To gain access to the HBW database and receive custom and detailed reports on the latest building activity in Florida and beyond, please contact HBW for details.