According to filings with Leon County and the City of Tallahassee, the number of single-family new construction permits were down 15.4% in September 2024 when compared to September 2023.
There were 33 permits issued in September 2024, down 6 from the 39 permits issued one year ago. There were 32 permits issued last month.
The value of the September 2024 permits was $8.7 million, down 23.0% from the $11.3 million reported in September 2023.
The 3-Mnth Avg. data (Jul-Sep) – which smooths out the month-to-month volatility – shows a 27.4% decrease in the number of permits issued over the same 3-month period one year ago.
The 3-Mnth Avg. data show a 32.1% decrease in monthly average permit value during this period. The 3-month average permit values fell from $13.7 million in September 2023 to $9.3 million in September 2024.
The chart below shows the number of permits issued each month for the last 36-month period. A 12-Mnth Avg. line is also included.
@PRR = High Home Prices and High Interest Rates are slowing the Home Ales. You can't find a nice Used Home for under $150K and New Homes are now starting in the Mid $300K's for the same Cookie cutter Homes.
It is expensive to live in Florida especially Leon County. IMO high property taxes and insurance are slowing growth.