Home-builders set record.U.S. single-family homebuilders began 1994 with their busiest 1st Quarter in history, pulling more than 235,000 building permits despite cruel winter weather and a harsh interest rate climate. Florida builders easily outdistanced their competition elsewhere in sheer volume of residential building permits. Florida has led the nation for the past two years in construction of new dwellings, and will do so again in 1994. The boom in the Rocky Mountain states Rocky Mountain States A region of the western United States including Colorado, Idaho, Montana, Nevada, Utah, and Wyoming. rolled on, powered by impressive 1st Quarter gains in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Phoenix, Salt Lake City and Denver. Housing in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). is showing signs of life again, though construction volume remains low by historical measures. These new findings by U.S. Housing Markets appear in its latest quarterly Flash Report on residential construction. U.S. Housing Markets is the research publication of Lomas Mortgage USA, a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services firm with headquarters in Dallas. "Building permit volume told an undeniable story," said David Stewart David Stewart may be:
Stewart said U.S. permit offices authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: 235,028 new one-family dwellings in the three-month period, outstripping the old record of 233,742 set in 1987's 1st Quarter. Multi-family developers accelerated their pace by 33 percent from last year, he noted. The Rocky Mountain region's single-family builders continued their boom with a 50 percent jump in permits from a year ago, said the U.S. Housing Markets report. Arizona (+47 percent), Colorado (+35 percent), Nevada (+51 percent) and Utah (+99 percent) enjoyed remarkable year-to-year gains. Phoenix led all metropolitan areas in total residential permits for the quarter, edging Atlanta by just a few units, U.S. Housing Markets reported. Atlanta remained No. 1 in single-family volume. Single-family builders in California boosted their 1st Quarter permit volume by 12 percent from a year ago. Even so, the state slipped to No. 3 in the ranking of states by total home-building activity. Robust residential construction in Texas boosted that state into the No. 2 spot behind Florida, said U.S. Housing Markets. U.S. Housing Markets said Las Vegas remained No. 1 on its Market Hotness list, which measures per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. home-building. In the last four quarters, builders in Las Vegas have pulled 22 permits per 1,000 residents, by far the hottest pace in the country. Next on the Market Hotness list was Ft. Myers-Cape Coral in Florida, with almost 15 permits per 1,000 population during the past four quarters. The difficult winter was felt most deeply by builders in the Northeast. Permit volume in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. was barely even with a year ago, and activity in the Mid-Atlantic states Mid-At·lan·tic States See Middle Atlantic States. Noun 1. Mid-Atlantic states - a region of the eastern United States comprising New York and New Jersey and Pennsylvania and Delaware and Maryland U.S.A. eased about 5 percent, dragged down by Pennsylvania's 17 percent slip. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion