Houston housing building permits dropped over 40% as of August 2009, according to data provided by the US Census Bureau and the National Association of Home Builders (NAHB).
Year-to-date total housing building permits in the Houston-Baytown-Sugar Land, TX, metropolitan area as of August 2009 amounted to 18,840 representing a decrease of 43% compared to the 33,050 housing permits issued during the same period last year.
The drop in the multi-family segment of the Houston housing market was considerably larger, as year-to-date multi-family building permits as of August 2009 totaled 3,670, representing a decrease of 65% compared to same period last year, when 10,520 permits were issued.
The drop in the single-family segment of the Houston housing market was smaller, as year-to-date single-family building permits as of August 2009 totaled 15,170, representing a decrease of 33% compared to same period last year, when 22,530 permits were issued. However, it should be noted that this building permit drop in this segment of the Houston housing market was the largest posted among the five largest metropolitan areas in Texas.
Looking at building permits trends in the five largest metropolitan markets in Texas, we make note of the trends in the College Station-Bryan, TX, metropolitan area, which registered the largest annual decline of 51% in total housing permits. It should also be noted that the annual drop in single-family housing permits in this metropolitan area was the smallest among the five metropolitan markets (only 8%).
Year-to-date multi-family permits in the College Station-Bryan, TX, metropolitan area posted an annual decline of 85%, but this was not the largest drop in this segment within the five largest metropolitan markets. The largest drop in this segment was registered in San Antonio, TX, where year-to-date multi-family permits as of August 2009 posted an annual drop of 87%.
In the Dallas-Fort Worth-Arlington, TX, metropolitan area year-to-date total housing permits posted an annual decline of 50%, while multi-family permits and single-family permits posted annual declines of 67% and 31%, respectively.
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