Construction Boom in Miami

Construction spending in South Florida rose for the fourth month in a row in Broward County in November, joining Miami-Dade County as areas with sustained growth in the sector.

Key Biscayne and Coral Gables and Pinecrest had fallen to zero. Now they’re back on. While construction employment is falling, the losses are more narrow than previously. It’s going better than expected. Six months months ago we were worried about a double dip recession. Now all of the evidence is pointing the other way.

Sales of new homes are up as well as resales across the Miami region.