Recent Trends In New Residential Permits for 1999's Top 25 Metro Areas
Permitted
Year-to-date% Change
Compared to
Year Ago1Atlanta GA5,01919.5%2Phoenix-Mesa AZ3,131-28.23Chicago IL1,8105.04Washington DC2,8956.45Dallas TX2,189-31.46Houston TX2,068-27.37Orlando FL1,584-54.68Las Vegas NV2,1177.59Charlotte NC1,811-26.910Tampa-St. Petersburg FL1,394-16.611Minneapolis MN1,03719.612Denver CO2,40039.513Raleigh-Durham NC782-30.514Riverside-San Bernardino CA1,54934.715Seattle WA1,55866.316Detroit MI1,063113.917Philadelphia PA1,27721.318Austin TX1,267-8.619Kansas City MO-KS1,23875.920San Diego CA956-47.621Columbus OH79673.822Indianapolis IN709-10.123New York NY1,084-13.624Portland, OR796-24.025Los Angeles, CA1,38250.1Source: U.S. Department of Commerce; Professional Builder
Nineteen-ninety-nine’s top two areas in terms of sheer volume of new residential construction -- Atlanta and Phoenix - got off to dramatically different starts during the first month of the new year. However, given the fact that weather and other special factors (including the tardy official recording of issued permits) can distort these numbers for any particular month, it’s much too early to draw conclusions about the relative strength or weakness of the year 2000 residential market in any metropolitan area.
Noteworthy are the great January permit volumes realized by Kansas City, Columbus, Seattle, and Los Angeles - all four areas coming in more than 50% above their January 1999 levels. Impressive gains were also realized in areas as diverse as the Denver, Riverside-San Bernardino, Philadelphia, and Minneapolis areas. Among the major home building markets, areas in Texas and Florida generally were slowest off the mark during the first month of this new year.
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