The Miami new construction market concluded 2016 in strong fashion, according to research from Dodge Data & Analytics.
In December, Miami saw more than $618 million in total residential construction spending, which is a 7 percent decline from Nov. 2015. However, year-to-date construction spending, which tracked the metro area’s activity for all of 2016, was $7.129 billion, a 7 percent jump.
See our chart below for more details on 2016’s new construction activity:
| Metro Area | Residential Construction Spending – Dec. 2016 (in millions) | YOY Change | YTD 2016 Construction Spending (in millions) | YOY Change |
|---|---|---|---|---|
| Atlanta | $465 | 51% | $7,557 | 23% |
| Boston | $429 | 81% | $5,776 | 33% |
| Chicago | $452 | 34% | $7,230 | 46% |
| Dallas | $771 | -17% | $12,348 | 6% |
| Houston | $564 | -12% | $8,925 | -13% |
| Los Angeles | $836 | 112% | $9,140 | 27% |
| Miami | $618 | -7% | $7,129 | 7% |
| New York | $1,747 | -42% | $18,813 | -25% |
| San Francisco | $259 | 80% | $4,413 | 30% |
| Seattle | $281 | -26% | $5,134 | -6% |
| Washington, D.C. | $617 | -8% | $7,266 | 10% |