New York residential building permits registered an annual decline of over 70% as of August 2009, according to data provided by the US Census Bureau and the National Association of Homebuilders (NAHB).
More specifically, residential building permits (including both single-family and multi-family structures) in the New York-Northern New Jersey-Long Island NY-NJ-PA metropolitan area during the period January-August 2009 totaled 11,190 representing 75% drop compared to the 45,460 residential permits issued during the same period last year.
This huge drop was driven by the multi-family segment of the New York residential market. In particular, multi-family building permits in the New York-Northern New Jersey-Long Island NY-NJ-PA metropolitan area during the period January-August 2009 totaled 7,250 representing an 82% drop compared to the 39,280 building permits that were issued during the same period last year.
The drop in building permits the single-family segment of the New York residential market was singificantly smaller. In particular, building permits in the New York-Northern New Jersey-Long Island NY-NJ-PA metropolitan area during the period January-August 2009 dropped 36% compared to single-family permits issued during the same period last year (from 6,180 last year to 3,940 this year).
|
Search Our Over 300-Page Website!
|
|
Search Our Over 300-Page Website!
Related Posts
Los Angeles Residential Building Permits Plunged More than 50% as of August 2009
All States but One Posted Declining Building Permit Trends in August 2009
Manhattan Apartment Rents in May-August 2009 Posted Annual Decreases in Excess of 7%
States with Fastest Rising House Prices, Second Quarter 2009
Markets with Highest CBD Office Rents in Q2 2009
Markets with Lowest CBD Office Vacancy Rates in Q2 2009
Single Family Home Sales Trends Across Metropolitan Markets, August 2009
Top Metropolitan Office Markets in Terms of Demand, Q2 2009
UK Housing Prices: Fastest Rising Markets in July 2009
California Apartment Rents, September 2009
US Metropolian Industrial Vacancy Rates, August 2009
Metropolitan Retail Vacancy Rates in August 2009
Metropolitan Apartment Vacancy Rates, August 2009
Washington DC Metro Tops House Price Growth in Q2 2009
New York Home Sales Jump 23%
Return from New York Residential Permits to Market Watch
