Housing starts rose 6.5% in September. Here is a look at the builders that were leading the sunshine state last month.
Looking for leads in Florida is easy; just take a look at the new home starts in September. HBW subscribers who have been keeping an eye on new residential construction have probably already noticed some of the busier areas throughout Florida. Taking a look at Jacksonville, Orlando, Tampa, Southeast and Southwest Florida, more than 3,700 new residential construction permits were added to the HBW database in September, and Southwest Florida led the state with 917 total new home starts.
According to the latest from the Commerce Department, housing starts in the U.S. rose by 6.5% in September 2015 to a seasonally adjusted annual rate of 1.21 million homes, with the South being an area where construction is on the rise. Another step in a positive direction was published in the New York Times earlier this month, noting that the National Association of Home Builders/Wells Fargo reported that builder sentiment rose to 64 (>50 = good sales conditions) in September, the highest since October 2005.
Figures from the HBW database also reveal some gains throughout Florida. Here is a look at new residential construction activity and the top 10 leading companies throughout the state.
Jacksonville had 652 new home starts in September, with D.R. Horton maintaining the #1 spot at 109 starts (total value: $16,055,936). Dream Finders Construction followed in second with 63 and close in total value ($15,153,481). In the third spot, David Weekley Homes started 42 new residential construction projects with a total value of $13,677,913.
Overall, Orlando was the third busiest area in September with 768 new residential permits on record. Still leading since our July report, Lennar Homes maintained the #1 spot with 78 new home starts (total value: $21,435,058), with the bulk of activity occurring in Orange and Osceola counties. Although Meritage Homes came in second for total number of starts (72), they led in total value ($28,055,552). In third, Taylor Morrison remains thriving in Central Florida with a total of 44 (total value: $19,159,252).
The Tampa area has been healthy and holds second place in the state for the month of September with 836 new home starts. The Villages of Lake Sumter led construction in the Tampa area with 127 starts (total value: $36,665,877), with all activity occurring in Sumter County. D.R. Horton (69 – total value: $14,286,784) and Lennar Homes (44 – total value: $11,436,860) were busy in Hillsborough, Pasco and Polk counties and are positioned in second and third for September.
As previously mentioned, Southwest Florida led the state in September with 917 home starts on record. Pulte Homes held a strong lead in the area with 112 total new residential construction starts (total value: $29,184,568). In second, D.R. Horton was at 67 (total value: $17,240,525), and Lennar Homes held strong in third with 57 starts (total value: $12,659,535).
According to a recent article in the New York Times, South Florida has been experiencing a construction boom of its own as the bulk of new activity heads to northern parts of the area. As prime real estate becomes limited in Miami-Dade (South), developers are moving slightly north to Broward and Palm Beach counties. In September there were 554 starts, with the #1 builder in the area being Lennar Homes (123 starts – total value: $50,667,078). G.L. Homes followed in the second spot with 74 new residential permits on record for the month (total value: $22,049,176), with all activity following the northern moving trend to Palm Beach County. D.R. Horton held a close third for total new home starts (68) and second for total value ($24,808,055).
Information utilized for the graphs and above listed figures was directly derived from HBW construction 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.