Value of South Florida construction starts gains 7%
Written by Miami Today on December 28, 2017
The value of construction starts in South Florida rose 7% in November from November 2016, reaching almost $612 million, Dodge Data & Analytics reported.
The single-digit gain masks a 55% rise in purely nonresidential starts to more than $321 million in Miami-Dade, Broward and Palm Beach counties, while residential starts continued a double-digit decline of 21% to over $290 million.
For 2017 as a whole for the first 11 months, total construction starts were off 7% for the area, with nonresidential starts up 32% and residential starts tumbling 31%.