The Real Deal Miami

New home permits drop

November 03, 2008 02:01PM

The number of permits filed for new home construction in Miami-Dade and Indian River counties dropped to 884 in the third quarter from 1,454 in the second quarter of this year. According to Metrostudy, a real estate research and consulting firm, that means the area is seeing the slowest pace of building in over 10 years. The number of move-ins also declined from 2,404 to 1,856.