HBWeekly

Since the start of this year (thru Q2-2023), Florida has exhibited a 28 percent year-over-year decrease in new residential construction, resulting in 50,920 new permits on record with HBW.  Out of the six regions reviewed (Central, West, Southeast, Southwest, Northeast, Northwest), all of them demonstrated year-over-year declines in new home construction ranging from -16 percent (Northwest) to -34 percent (Southwest Florida), with West Florida carrying the highest level of new construction activity (12,154 permits)

Here is a closer look at total permits and leading counties for each Florida region at the mid-year point:

West Florida

As previously noted, the western region of Florida carried the greatest amount of new residential construction permits (12,154 permits) through Q2, as well as demonstrated a 27 percent decrease in new permits in comparison to the same time last year.  Out of the seven counties that make up the western region, more than half of all new home construction took place in the counties of Pasco (3,366 permits) and Polk (3,112 permits).

Southwest Florida

Not far behind the western region, Southwest Florida ranked #2 for new home construction, having 11,136 new permits through Q2, reflecting a 34 percent year-over-year decrease in new residential construction.  Out of the five counties that make up the area, just over half of all new permits originated from the two counties of Lee (3,588 permits) and Manatee (2,367 permits).

Northeast Florida

In the northeast, there have been 8,924 new residential construction permits added to the HBW database since the start of this year (thru Q2), reflecting a 33 percent year-over-year decrease in new home construction.  Out of the eight counties that make up the area, nearly half of all new permits originated from the counties of St. Johns and Marion where there were 2,249 and 2,144 permits on record respectively for the six-month period.

Central Florida

Through the second quarter of this year, there have been 8,270 new residential construction permits added to the HBW database for Central Florida, reflecting a 25 percent decrease in new home construction in comparison to the same period last year.  Out of the six counties that make up the area, more than half of all new home construction took place in the two counties of Orange and Brevard where there were 2,270 and 2,183 new permits on record with HBW respectively.

Northwest Florida

Out of the six regions reviewed, the northwest is by far the most expansive, consisting of 16 Florida counties as well as 2 bordering counties in Alabama.  Through the second quarter of this year, there have been 5,920 new residential construction permits in the northwest, reflecting a 16 percent year-over-year decrease in new home construction.  Out of the 18 counties included in the report, nearly half of all new permits originated from the counties of Bay, FL (1,177 permits), Baldwin, AL (908 permits), and Escambia, FL (684 permits).

Southeast Florida

Through Q2-2023, there have been 4,516 new residential construction permits added to the HBW database for the southeastern region of Florida, reflecting a 23 percent decrease in new home construction in comparison to the same time last year. Out of the seven counties that make up the area, more than 60 percent of all new permits originated from the counties of St. Lucie and Palm Beach where there were 1,851 and 917 new permits on record respectively.

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.

Last month, Florida experienced approximately a 12 percent month-over-month decrease in new home construction – Across the five major regions of Florida (Southwest, Tampa, Jacksonville, Orlando, Southeast) there were 7,455 new residential construction permits with a total value of nearly $2.4 billion during the month of June.  Out of the five regions reviewed, Tampa carried the greatest volume of new residential construction (2,095 permits), while the highest average value of construction could be found in the southeastern region of the state (average value: $432,946).

Here is a look at permit details for new home construction in the Sunshine State by region, inclusive of total permits, construction values, and leading counties for the month of June 2023:

Tampa

As previously noted, the Tampa area held the highest concentration of housing starts out of the five Florida regions reviewed, having nearly 2,100 new permits with a total construction value of approximately $590.4 million on record with HBW last month.  More than half of all new construction took place in the counties of Pasco (639 permits) and Polk (578 permits), and the average value of new home construction was $281,798.

Southwest

Not far behind Tampa, the southwestern region of Florida had more than 1,960 new residential construction permits with a total value of approximately $615 million on record with HBW for the month of June.  The average value of new home construction was $313,330, and the majority of permits originated from the counties of Manatee (574 permits) and Lee (554 permits).

Orlando

In Orlando, there were nearly 1,465 new residential construction permits with a total value of $514.5 million last month.  The average value of new home construction was $351,699, and nearly half of all new permits originated from the two counties of Brevard (363 permits) and Orange (353 permits).

Jacksonville

In the Jacksonville area, there were approximately 1,130 new residential construction permits with a total value of $312 million on record with HBW last month.  The average value of new home construction was lowest in Jacksonville (average value: $276,354) in comparison to other regions reviewed, and the majority of all new permits originated from the counties of St. Johns (415 permits) and Duval (334 permits).

Southeast

Last month, there were more than 800 new residential construction permits with a total value of approximately $349 million in the southeastern region of Florida.  As previously noted, the average value of new home construction was highest in the southeast (average value: $432,946) in comparison to other Florida regions reviewed, and the bulk of all new residential construction activity took place in the counties of St. Lucie (374 permits) and Miami-Dade (123 permits).

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.