This year is shaping up to be a positive one for new construction in Miami

Residential construction spending in the  Miami area was up 88 percent year-over-year in July, and so far in 2015 is 40 percent ahead of where it was last year.

Those highly encouraging stats came courtesy of the latest Dodge Data & Analytics report, a monthly look at residential construction activity in the nation’s largest metro areas.

Miami Agent assembled a series of graphs on Dodge Data’s findings. Below is total residential construction spending in July:

As with previous months, the overall construction activity in Miami was among the highest in the nation, as new luxury developments in Brickell and other high-demand neighborhoods boost spending.

Miami’s year-over-year growth was also among the nation’s best:

Yearly stats, however, can be volatile, and an area’s year-to-date progress is a better indicator of the market’s actual health:

At 40 percent, Miami’s year-to-date measurements remain strong, and indicate that the Magic City is due for its best year of new construction activity since the downturn.