Saturday, August 25, 2012

New Home Construction In Connecticut Sees Another Gain In July ...

Permits issued for new housing units in Connecticut rose again in July, pushing totals so far this year nearly 40 percent higher than the same period in 2011, according to a new report today.

The new construction provides a bit of relief from last year when residential building hit its lowest levels in decades, as housing struggled to stabilize.

Towns and cities issued permits for 2,092 single-family houses, condominiums and apartment units for the first seven months of the year, according to the state Department of Economic and Community Development. That represents a 39-percent increase from the 1,508 units approved by local building officials for the same period a year ago.

Even so, this year?s pace is still well behind the 6,000 to 8,000 units that real estate experts consider to be a healthy residential building market. Construction is being held back, at least in part, by weak demand, although sales have picked up in recent months.

Permits have increased each month this year, with the exception of March, which was flat. In July, the number of permits rose 31 percent, to 375 from 258 a year ago.

A little over half of the new units were single-family houses.

The report is based on a monthly survey by the U.S. Census of 128 towns and cities in Connecticut. Once a year, all towns report annual numbers. The monthly report typically have reflected closely the results of the annual count.

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Source: http://courantblogs.com/ct-real-estate/new-home-construction-in-connecticut-sees-another-gain-in-july/

xavier joan crawford joan crawford john goodman kendall marshall whitney houston news sylvia plath

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