New Construction Drops

Numbers for New Construction in December 2008 are out. Still no good news.

Building permits in December 2008 fell 10.7% from November and declined 50.6% from December 2007, to 549,000.
For 2008 overall, building permits fell 36.2% from 2007, to 892,500.
Housing starts in December 2008 declined 15.5% from November and fell 45.0% from December 2007, to 550,000.
For 2008 overall, housing starts fell 33.3%, to 904,300.

Have you seen any new construction in your neighborhood?

We’ll keep you posted as we get any more information about new construction and the housing market.

Jan. 22, 2009.