In the first upswing since the economic downturn began in 2008, permits for new buildings in New York City have increased in the first two months of the year from the same months in 2011, Crain’s reported.
The number of permits for new buildings rose year-over-year by 42.7 percent to 2041, according to data from the Department of Buildings, and that equals five new projects getting permits every business day. [more]
The number of new home started nationwide in December fell 4.1 percent from November, according to construction data released today by the U.S. Census Bureau and the Department of Housing and Urban Development.
Still, builders are optimistic following the release because housing starts on single-family homes rose 4.4 percent from the previous month. [more]
New residential construction surged nationwide November to its highest level of the year, and more building permits were issued than in any other month in 2011, according to a report released today by the U.S. Census Bureau and the Department of Housing and Urban Development.
Housing starts in November stood at a seasonally adjusted annual rate of 685,000, 9.3 percent above October’s estimate and a 24.3 percent increase over November 2010. The uptick was most profound in structures with five or more units, as that market segment gained 32.2 percent month-over-month and 180.5 percent year-over-year. — Adam Fusfeld
[more]
Building permit activity has fallen since the crash in 2007, but there are signs that builders have almost completely stopped activity in a number of states, where no one seems to want to buy a new home. At the top (or bottom) of the list is Rhode Island, where building permits have declined 70.81 percent in the last six years, and there are just 312 building permits so far this year. New York, which has one of the largest housing markets in the country, has seen 11,033 building permits in 2011, but that number is a 61.8 percent drop from 2005 — and less than half of the 28,921 permits taken out in 2005. Florida is not among the top 10. [MSNBC]
Though still below 2008 levels, new construction permits in New York City are on the rise, an indication that developments may be back on track, the Wall Street Journal reported.
Permits for new buildings, alterations and demolition rose by approximately 12 percent during the first half of 2011 compared with the same period last year, according to new data from the Department of Buildings. Demolitions — normally a firm indicator of brand new projects — jumped by 14 percent.
“More construction permits mean more people are going to work,” Buildings Commissioner Robert LiMandri said.
Private developers are still experiencing difficulty when it comes to financing big projects, said Richard Anderson, president of the New York Building Congress, as lenders tighten their restrictions. [more]
The annual rate of building permits issued for new privately-owned U.S. housing units fell by another 8.2 percent in February to a record-low 517,000, according to the latest data from the Commerce Department, backing up analysts’ predictions that a sustained recovery in the housing market is still elusive. The permitting rate, which is indicative of future construction activity in the housing sector, was 20.5 percent below its level in February 2010, the figures show. Meanwhile, housing starts were at an annual rate of just 479,000, down 22.5 percent from January and 20.8 percent from the rate last year at this time. TRD [more]
Housing starts declined in October, while predictions for future building permits rose, according to data released today by the U.S. Department of Commerce. Privately owned housing starts in October were at a rate of 519,000, 11.7 percent below the September estimate of 588,000, and 1.9 percent below the October 2009 rate of 529,000. Single-family housing starts in October were at a rate of 436,000, 1.1 percent below the September figure. Building permits in October 2010 were 550,000, up .5 percent from September but down 4.5 percent from October 2009. TRD
[more]
New building permits issued in the first five months of the year showed a year-over-year drop in all five boroughs for the second year in a row, according to data prepared by the Department of Buildings for The Real Deal. Citywide, permits were down 48.5 percent from the same period last year to 720, and were down 69 percent from the first half of 2007, when the building boom was still in full force. Of the five boroughs, Manhattan saw the biggest drop from last year, with 18 building permits filed between January and May, or 72.3 percent fewer than in the same period of 2008. This number was off 71.9 percent from 2007. Brooklyn and the Bronx were also hit hard, seeing a 66 percent drop to 115 permits, and a 67 percent drop to 73 permits, respectively. New permits in Brooklyn were off 79.9 percent from 2007, while in the Bronx they were off 81.1 percent. [more]
