Betty Jung’s Blog: Market Update: Building Permits 2007 vs. 2008


And, here are some more numbers:

According to the Construction Monitor www.constructionmonitor.com and the Home Builders Association of Metropolitan Portland, here is the 2008 Year-to-Date Building Permit activity by county.  It is at its lowest since 1991.

Many small builders haven’t built anything new in several months and in some cases more than a year.  If you read my recent post Market Update:  New Construction, you will see there is still a large inventory of new homes that builders need to unload.  Remodeling is also lagging.

In addition, many of the local builders here have filed for bankruptcy protection as I reported in my “Top 50 Builders in Oregon” post.  This weekend, I happened to notice another one of our larger local builders, whom I won’t name, is selling some of his lot inventory.  Is he in trouble or is he just making sure he won’t be? 

2008 Year-to-date Building Permit Activity by County

2008

2007

Difference

WASHINGTON COUNTY

 

 

 

Single Family

650

1,681

-1,031

Duplexes/Twin Homes

0

0

0

Other Residential Structures

23

96

-73

Residential Remodels

291

442

-151

MULTNOMAH COUNTY

 

 

 

Single Family

643

1,249

-606

Duplexes/Twin Homes

23

84

-56

Other Residential Structures

29

66

-37

Residential Remodels

1,004

1,312

-308

CLACKAMAS COUNTY

 

 

 

Single Family

619

1,361

-743

Duplexes/Twin Homes

4

9

-5

Other Residential Structures

91

209

-118

Residential Remodels

417

606

-189

YAMHILL COUNTY

 

 

 

Single Family

256

370

-114

Duplexes/Twin Homes

30

13

+17

Other Residential Structures

32

154

-122

Residential Remodels

91

95

-4

Source:  Construction Monitor (www.constructionmonitor.com) and David Nielsen, Home Builders Association of Metropolitan Portland.

Copyright ©Betty Jung 2008.  All Rights Reserved.

Disclaimer: All information in this post is subject to change without notice. Subject matter is an opinion, is not guaranteed, may be time sensitive, and may be based on information collected from several sources which may or may not be reliable at the time of sourcing.  

(For more local and national real estate news, click on my monthly newsletter – JUNG’S JOURNAL – on my website www.bettyjung.com).
Betty Jung
Broker
RE/MAX equity group, inc.
503-495-5220 or email:bettyjung@remax.net
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