More than 5,100 permits are on record with HBW for Florida housing starts in May, a 35% increase in comparison to April.
Along with Orlando continuing to hold the #1 spot for total housing starts in May, every major area of Florida, from Jacksonville to Miami, experienced growth in new residential construction permits since April. The HBW database has 5,158 new residential construction leads on file for May which is a 35% increase in permitting activity in comparison to April. Out of the close to $1.5B in total construction across the state, Orlando had the most total starts for the month (1,384 permits), and the southeast region experienced the greatest growth in housing starts since April with a colossal 91% increase in permits on file. Southeastern Florida also held the highest average value for housing starts in May (average value: $329,736).
Florida New Residential Construction Permits – May 2016
FL Average Value of Residential Construction – May 2016
In Orlando, the area saw a 34% increase in total permits since April and had approximately $408.5M in new residential construction for the month. The bulk of activity in and around Orlando continued to take place in Orange and Osceola counties. As previously mentioned, the southeast region saw the most growth in total permits for the month (up 91%) with 704 housing starts and more than $232M in total value. Jacksonville was third highest for growth with a 45% increase in housing starts (967 permits) on file with HBW and nearly $233M in construction value. Southwest Florida and Tampa came in at second and third highest for total permits with 1090 and 1013 housing starts for the month.
When breaking the latest permit data reports down by counties, there was major growth evident in every one of the top ten counties for total housing starts. Although there was some shifting in the top spots, all counties had more new residential construction permits on file in comparison to April, with Orange County (Orlando) continuing to lead. Orange County experienced a 65% increase in housing starts since April with 566 new residential construction permits and approximately $191M in total construction for the month. Also maintaining its position in the top ten list, Hillsborough County (Tampa) held on to #2 with a 42% increase in new permits since April having 454 housing starts and close to $154.5M in construction value. Polk County (Tampa) took a mammoth leap from #10 in April to #3 in May as it more than doubled in total housing starts. Polk County had 416 starts last month and approximately $76M in construction value.
FL Top 10 Counties for Total Permits – May 2016
Information utilized for the graphs and above listed figures for Florida residential construction was directly derived from HBW 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.