Central Florida New Home Construction Rises in Tampa and Orlando
Construction starts are a leading indicator of economic activity and the Central Florida economy is booming. In a list compiled by McGraw Hill Construction, Orlando ranked No. 12 and Tampa ranked No. 16 among the nation’s top 20 cities with the most new construction. This boost in construction is leading to a stronger local economy, consumer confidence is on the rise and now is a great time to purchase a Central Florida new home.
To determine the top 20 U.S. cities with the most new construction, McGraw Hill Construction sorted through building data for the nation’s metropolitan statistical areas (MSAs) to find the 20 places where the most money has been spent on new construction from January to May, 2013. Dollar amounts for new construction that fall under the “Total Building” umbrella were used. Total building includes single-family homes, multi-family homes, office space, retail space, warehouses, healthcare facilities, educational buildings, manufacturing plants and research facilities. Money spent on public works projects was not included.
Orlando and Tampa were two of the three Florida cities included on the list with Miami ranked at No. 7. From January to May of this year, Orlando has seen $2.2 billion spent on new construction, an increase of 57 percent from 2012. Tampa saw a 50 percent increase from 2012 with $1.7 billion spent on new construction as of May.
New York City topped the list with $8.5 billion in new construction. New construction across the nation is projected to be up 12 percent in 2013, a huge sign that the housing market and economy are improving.
All of this new construction means that now is a great time to purchase a Central Florida new home in Tampa or Orlando. At Highland Homes, we offer plenty of opportunities for buyers looking to purchase their dream home with more than a dozen communities located throughout the Tampa and Orlando regions. We offer more than 40 floor plans to choose from, and our Orlando and Tampa new homes are affordably priced from the low-$100,000s. To make purchasing your dream home even more affordable, qualified home buyers can purchase for just $99 down.
As a top Florida home builder, we not only build beautiful homes around Orlando and Tampa, but also in Lakeland, Winter Haven, Bartow, Davenport, and Manatee County. For more information on all of our Central Florida communities, visit the Highland Homes website today.