Recent information from Leon County and the City of Tallahassee shows that single-family new construction projects increased by 7.6% in 2015. In 2014, 446 single-family permits were approved and in 2015 that number increased to 480 units.
The 7.6% growth in Leon County is less than the 9.9% growth in single-family starts reported at the national level by the National Association of Realtors (NAR). The NAR is projecting a robust 15.5% increase in single-family starts in 2016.
Also, the valuations of single-family construction permits in Leon County increased by approximately 11% from $89.9 million in 2014 to $99.9 million in 2015.
The chart below shows that annual value of single-family permits in 2015 have increased by 78% since 2012.
Can the growth in single family resales and new construction continue during 2016? Stay tuned.