The annual Building Activity Trend Reports for new residential construction in Florida have been released by HBW, and based on the figures published through the 4th quarter of 2023, there was a 15 percent year-over-year decrease in new home construction, resulting in more than 106,030 new permits on record with HBW. The report was based on new residential construction permits from six major regions of Florida (Central, West, Southeast, Southwest, Northeast, Northwest), and all regions exhibited year-over-year decreases in new home construction ranging from -7 percent to -20 percent.
Out of the six regions reviewed, the greatest concentration of housing starts could be found in West Florida, where there were 24,936 new residential construction permits on record, reflecting a 12 percent year-over-year decrease in new home construction.
Here is a closer look at the reports and a breakdown of the total permits, annual change in new construction activity, leading counties for new permits and the totals for higher value properties in the Sunshine State last year:
West Florida
Total Permits: 24,936
% Annual Change – YTD (2022 vs. 2023): -12%
Top County for New Construction: Pasco County (7,017 permits)
Total Permits for Higher Value Homes (>$500k): 1,890
Southwest Florida
Total Permits: 23,879
% Annual Change – YTD (2022 vs. 2023): -16%
Top County for New Construction: Lee County (8,104 permits)
Total Permits for Higher Value Homes (>$500k): 2,037
Northeast Florida
Total Permits: 19,427
% Annual Change – YTD (2022 vs. 2023): -17%
Top County for New Construction: St. Johns County (5,104 permits)
Total Permits for Higher Value Homes (>$500k): 1,034
Central Florida
Total Permits: 16,120
% Annual Change – YTD (2022 vs. 2023): -20%
Top County for New Construction: Orange County (4,358 permits)
Total Permits for Higher Value Homes (>$500k): 1,951
Northwest Florida
Total Permits: 12,202
% Annual Change – YTD (2022 vs. 2023): -7%
Top County for New Construction: Bay County (2,116 permits)
Total Permits for Higher Value Homes (>$500k): 1,123
Southeast Florida
Total Permits: 9,468
% Annual Change – YTD (2022 vs. 2023): -14%
Top County for New Construction: St. Lucie County (4,168 permits)
Total Permits for Higher Value Homes (>$500k): 1,297
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.