The Miami new construction market continued its solid 2016 performance in July, according to new numbers from Dodge Data & Analytics.
In July, Miami saw more than $854 million in total residential construction spending, a pronounced 18 percent decline from July 2015. Year-over-year numbers, though, are notoriously erratic, and indeed, Miami’s year-to-date construction spending is more stable. Now totaling $4.218 billion, the market is up 1 percent over the same time period last year.
See our chart below for more details on July’s new construction activity:
| Metro Area | Residential Construction Spending – July 2016 (in Millions) | YOY Change | YTD 2016 Construction Spending (in Millions) | YOY Change |
|---|---|---|---|---|
| Atlanta | $561 | -27% | $4,266 | 7% |
| Boston | $235 | -62% | $2,786 | 9% |
| Chicago | $897 | 133% | $4,224 | 66% |
| Dallas | $914 | -3% | $6,775 | 2% |
| Houston | $719 | -27% | $5,352 | -16% |
| Los Angeles | $353 | -62% | $4,678 | 10% |
| Miami | $854 | -18% | $4,218 | 1% |
| New York | $1,347 | -54% | $11,820 | -29% |
| San Francisco | $193 | -64% | $2,345 | 14% |
| Seattle | $343 | -34% | $2,730 | -11% |