Building in the Magic City Making Significant Progress

Residential construction spending in the Miami area was up 86 percent year-over-year in June, and so far in 2015 is 27 percent ahead of where it was last year.

Those 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 June:

Overall construction activity remains among the highest in the nation, with only Houston, Dallas and New York ranking higher.

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

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

At 27 percent, Miami’s year-to-date measurements are also very positive, and they strongly indicate that Miami is due for its best year of new construction activity since the downturn.