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Miami new construction continues to fall behind in 2016

by Peter Thomas Ricci

new-construction-home-house-worker-frame

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%

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