The Miami new construction market is putting up some of the most impressive numbers in the nation this year, according to research from Dodge Data & Analytics.
In September, Miami saw more than $267 million in total residential construction spending, a 14 percent decline from Sept. 2015. Even more, the Magic City’s year-to-date construction spending now totals $4.986 billion, a 4 percent decrease from the same time period last year. Miami’s total spending is still high, but it has noticeably slowed in 2016.
See our chart below for more details on September’s new construction activity:
| Metro Area | Residential Construction Spending – Sept. 2016 (in millions) | YOY Change | YTD 2016 Construction Spending (in millions) | YOY Change |
|---|---|---|---|---|
| Atlanta | $505 | 12% | $5,662 | 13% |
| Boston | $515 | 77% | $3,684 | 7% |
| Chicago | $446 | 13% | $5,948 | 72% |
| Dallas | $847 | -7% | $9,237 | 8% |
| Houston | $671 | -20% | $6,696 | -18% |
| Los Angeles | $528 | 20% | $6,736 | 16% |
| Miami | $267 | -14% | $4,986 | -4% |
| New York | $1,154 | 16% | $14,402 | -25% |
| San Francisco | $287 | 28% | $3,324 | 29% |
| Seattle | $570 | 25% | $3,836 | -6% |