This year is shaping up to be a very positive one for residential construction in Miami, according to the latest numbers from Dodge Data & Analytics.
In March, residential construction spending in Miami totaled $881 million, a whopping 50 percent increase from March 2015; more encouraging was the Magic City’s year-to-date spending, which now totals $1.975 billion, a 31 percent increase over the same time period in 2015.
As our chart below demonstrates, among large metro areas, Miami’s new construction spending is seeing some of the biggest jumps in the country:
| Metro Area | Residential Construction Spending – March 2016 (In Millions) | YOY Change | YTD 2016 Construction Spending (in Millions) | YOY Change |
|---|---|---|---|---|
| Atlanta | $549 | -25% | $1,767 | 15% |
| Boston | $612 | 82% | $1,486 | 38% |
| Chicago | $548 | 4% | $1,157 | 38% |
| Dallas | $802 | -6% | $2,588 | 5% |
| Houston | $736 | -20% | $2,157 | -23% |
| Los Angeles | $643 | 39% | $1,398 | 9% |
| Miami | $881 | 50% | $1,975 | 31% |
| New York | $2,080 | 10% | $5,594 | 13% |
| Seattle | $347 | -30% | $1,109 | -10% |
| San Francisco | $468 | 117.8% | $1,162 | 92% |