According to data compiled by Dodge Data & Analytics, construction spending was down 20 percent in South Florida in February 2017 when compared to the same time period of 2016. Construction starts totaled nearly $776 million, down from $972 million for the same time frame from last year. Residential construction fell from $677 to $390 million, a down turn of 42 percent in February 2016 while commercial starts topped $386 million a 31 percent increase from $295 million.
Compared to January and February of last year, residential construction starts fell by 40 percent to $704 million from nearly $1.2 billion. Overall, construction spending in South Florida totaled $10.9 billion in 2016, marking a 3 percent increase from the previous year.
