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Home construction is slowing down in Florida for the second straight year, according to permitting data in a new study.
The study, from real estate search company Point2, found that 193,192 permits were issued in the state last year, a 9% decrease from 2022. Permits for buildings with more than five units fell 13%.
The news that fewer new homes are in the pipeline is concerning given rapid population growth that is already creating havoc in the market, as a lack of inventory is driving housing costs up and pushing people out.
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