If Naples builds it, they will come (hopefully).
At a time when the construction of new homes slowed dramatically nationwide, Naples appeared to be relatively unfazed. About 17% more residential building permits were issued in the Naples area in April and May of this year compared to the same time period in 2019, according to U.S. Census data. Permits slowed in June in Naples, but they picked up again in the Fort Myers area after being down nearly 30% in April and May compared to the previous year.
Nationwide, new permits were down close to 20% in April compared to April 2019, then rebounded in May and June. Florida fared a little better: The Sunshine State hit bottom in April when it was down about 15% compared to the previous year, but quickly rebounded. In June, it actually exceeded last year’s number by 16%. Of course, a building permit is just the start; time will tell how the pandemic further affects actual residential construction.