posted on December 24, 2010 23:31
City of Houston construction permit values were down 2.6 percent in November, according to figures compiled by the Greater Houston Partnership’s research department.
Permit values were $175.9 million, down from $180.7 million in November 2009.
So far this year, permit totals sank 15.4 percent to $2.9 billion.
Nonresidential permit values for November rose 1.9 percent to $114.4 million from $112.3 million for the same month last year. However, permit values for the year are down 23.6 percent to $2 million from $2.6 million a year ago. New nonresidental permits fell 4.8 percent, while nonresidental additions or alterations were up 7.3 percent.
Also down are residential permit values, which dropped 10.1 percent to $61.5 million last month. New residential construction dropped 12.5 percent, while residential additions or alterations declined 1.9 percent.
Year-to-date permits for all residential construction are 11.3 percent, above the levels for the same time period last year, which the GHP attributes to demand created in the first part of the year by the first-time home buyer tax credit.
12/22/10, Houston Business Journal