New Home Construction In CT Strongest In Four Years
New residential construction in Connecticut was the strongest in four years in 2012, as demand for new housing units appeared to gain momentum, according to a report today.
Towns and cities issued permits for 4,140 single-family houses, condominiums and apartment units last year, a 46-percent jump from 2,837 in 2011 when new home construction hit the lowest level in decades.
The report, from the state Department of Economic and Community Development, represents a sample of 128 municipalities that is surveyed every month by the U.S. Census. Once a year, the Census surveys all 169 towns and cities and typically releases those statistics each May for the previous year.
Still, the report today gives the first indication of a potential upturn in the state’s new home construction market. There have been false starts before, however: in 2010, the number of permits issued rose only to fall in 2011.
Today’s report also included a breakdown by type of housing. Buildings with five or more units led the way with 2,015, followed by single-family houses, with 1,997. Duplexes accounted for 66 units, while three- and four-family dwellings had 62 units.
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