Data compiled from city and county building departments by the Northeast Florida Builders Association for the greater Jacksonville area (Clay, Duval, Nassau and St. Johns counties) show an increase in the number of permits issued in June compared to May, and an increase over the same period last year. The monthly average in 2005 is 1,472 permits issued, putting Jacksonville on a path to exceed last year’s total by more than 20 percent if the pace continues. Experts believe this will be another high-growth year for the local housing market.
Bryan Lendry, president of the Northeast Florida Builders Association, sees the Jacksonville activity as confirmation of housing’s continued bolstering of the economy. Lendry cited a report released by the National Association of Home Builders in response to concerns across the nation that the real estate bubble is about to break. NAHB conducted surveys of builders nationwide and compiled information from a number of other sources.
“The Jacksonville market has been growing steadily, at a manageable rate and over a period of several years,” Lendry said. “The NAHB surveys did uncover a few specific markets where spikes in growth may not be sustainable - ‘super-hot’ markets, but overall the report indicates the fundamentals of the housing market are sound.”
Lendry said the NAHB report suggests a nationwide decline in home values is very remote due to the unique nature of individual housing markets.
“The report confirms what we’ve been saying all along about the viability of the Jacksonville market,” Lendry said. “We are experiencing a strong demand for housing, and as our area gains more national attention and prominence, that is likely to increase.”
The four counties combined reported a growth rate of 24 percent, with Clay reporting 441 compared to 252 in May; Duval 807 compared to 682; and Nassau 112, compared to 65. The slight decline in St. Johns County - 498 in June compared to 502 in May - represented less than a 1 percent decrease.
CLAY COUNTY
June 2005/441
May 2005/252
2005 Total YTD/1,857
2004 Total/2,687
2003 Total/2,313
DUVAL COUNTY
June 2005/807
May 2005/682
2005 Total YTD/3,991
2004 Total/6,101
2003 Total/5,646
NASSAU COUNTY
June 2005/112
May 2005/65
2005 Total YTD/558
2004 Total/1,238
2003 Total/1,005
ST. JOHNS COUNTY
June 2005/498
May 2005/502
2005 Total YTD/2,423
2004 Total/3,610
2003 Total/3,002
Greater Jacksonville Area
(Clay, Duval Nassau and St. Johns counties)
2005 June/1,858
2005 May/1,501
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2005 Total YTD/8,829
2004 Total/13,636
2003 Total/11,976
2002 Total/10,618
2001 Total/9,075
The Northeast Florida Builders Association provides education, research, legislative representation, media relations, promotions and programs for its 1,700-plus builder and associate members. The Association is celebrating 61 years of service to members and to the community through various charitable efforts. For more information about member benefits, area builders or the association, call (904) 725-4355 or visit online at www.nefba.com.