Through August, all permit activity rose 41.7 percent over the first eight months in 2012, according to Inside Real Estate News. Homebuilders pulled 4,730 single family home permits through August, a 28.2 percent increase over the 3.689 permits pulled through August last year. Townhome permits rose to 818, a 42.3 percent increase over the 575 townhome permits pulled through August last year. Apartment permits were up 64 percent over last year.

While a recent projection called for 7,500 new homes to be delivered this year, it's expected that by year's end, 6,500 will be delivered, largely due to the lack of finished lots and raw materials, noted S. Robert August, president of North Star Synergies, Inc. With the recent flooding, August expects homebuilders to do their best to build new homes, the pressure of homeowners in flood-ravaged areas to exacerbate the problem. Read more...

 

   Tweet