New Home Construction Shows Strength In 2013

by Categorized: Uncategorized Date:

New home construction in Connecticut is on a pace to be the strongest in five years, based on permits approved by cities and towns in the first seven months of this year, a new report shows.

Through the first seven months of 2013, Connecticut municipalities approved permits for 2,307 single-family houses, condominiums and apartment units, according to the report from the state Department of Economic and Community Development.

The building activity is the highest since 2008 when 3,096 were approved for the same seven-month period.

Through July, the strongest building sector was single-family houses, with 1,368 units, followed by developments of five or more units, at 869 units.

The report, drawn from U.S. Census data, is based on a survey of 128 towns and cities in the state that is conducted monthly. Once a year, all 169 municipalities are surveyed for an annual total, but the two surveys have tracked each other relatively closely in recent years.

Housing construction in the state hit bottom in 2011 and has been slowly picking up. Last year, permits for new housing units soared 47 percent, to 4,669 from a decades low of 3,173 in 2011. A healthy market in Connecticut is considered to be between 8,000 and 10,000 new units a year, experts say, indicating that years of growth will still be necessary.

In July, municipalities issued permits for 420 housing units, the strongest since 2009, and a 12-percent increase from 2012.

 

 

 

The Courant is using Facebook comments on stories. To comment on courant.com articles, sign into Facebook and enter your comment in the field below. Comments will appear in your Facebook News Feed unless you choose otherwise. To report spam or abuse, click the X next to the comment. For guidelines on commenting, click here.