According to a new study, construction of residential properties in Florida is among the best in the country.
PortlandRealEstate.com, an Oregon real estate agency, has recently published a report that says that 9.8 houses per 1,000 residents are currently under construction stage in Florida, which is one of the best performances across the USA.
The statistics were calculated based on the data from the US Census Bureau and Statista, a company doing market analytics. As a result, Florida ranked third after Utah and Idaho, where 11.7 and 11.43 houses, respectively, are built per every thousand people. This is significantly higher than the national average of 5.23 houses per 1,000 people.
High-ranking states, including Florida, are building so much because of a huge demand for housing caused by an influx of immigrants during and after the pandemic.
This study is a curious snapshot of the real estate market in view of the recent alarming news regarding a slump in sales. On December 28, 2022, the National Association of Realtors reported that housing sales dropped by 4% across the country in November compared to 2021. The pending sales volume reduced by 37.8% relative to last year.