Florida among states with most new home builds
By Stuart Korfhage
Tampa Bay Business Journal
Published: Jan 19, 2023

A new study has revealed the states where new houses are being built the most and the Sunshine State ranked in the top three.

The data by portlandrealestate.com analyzed U.S. Census data and Statista to determine which states had the most new construction homes being developed per 1,000 residents.

The research found that Utah has the most new homes being built per 1,000 residents at 11.7. This is more than double the U.S. average of 5.23 new builds per 1,000 residents. The average value of a house in Utah is $554,955.

The state with the second highest number of new builds being built is Idaho, where 11.43 new homes are being built per 1,000 residents. The average value of a typical family home in Idaho currently sits at $427,410.

Florida ranks third, with 9.80 new homes being built per 1,000 residents. The average value of a house in Florida is $406,426 – up 22.4% from last year.

On the First Coast, the median sales price of a single-family home in December 2022 was $370,000, according to the Northeast Florida Association of Realtors.

As for building activity, statistics from the Northeast Florida Builders Association showed that 13,802 permits for single-family homes were issued in 2022 for Clay, Duval, Nassau and St. Johns counties combined. That was about 2,300 fewer than 2021 but more than any other year since 2005.

South Carolina and Colorado rank fourth and fifth, respectively. South Carolina has 9.76 new builds being built per 1,000 residents in the state, while Colorado has a slightly lower rate of 9.73 new construction homes being built per 1,000 residents.

At the other end of the scale, Rhode Island has the fewest new builds being built per 1,000 residents at only 1.27 new builds.

Commenting on the study, a spokesperson for portlandrealestate.com said: “In 2021, there were 6.9 million houses sold across the U.S., with this number projected to rise to over 7 million in 2023. With this in mind, this study offers a revealing insight into the states where the supply of new housing is increasing the fastest to meet the ever-increasing demand for any potential buyers. This research can serve as a useful guide as to where more property will be available in the coming years.”