May 31, 2017 Real Estate News

Miami Construction Rates Increased In April Despite Previous Drop

By: Joe Ward

Source: Miami Agent

Both residential and commercial starts saw an increase in construction rates for April 2017. Since Miami’s overall construction rates have been falling for some time due to excess supply, this new report from Dodge Data & Analytics shows a notable diversion from the previous trend.

Residential construction saw a 302-percent increase, as builders spent $538.2 million on housing construction in April 2017 versus $133.8 million in April 2016, according to Dodge. Commercial construction only saw a 3-percent increase from April 2016 to April 2017, but total starts experienced a notable 80-percent increase last month.

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