Florida, Texas Slowest Starters in 2000

The top two areas in terms of sheer volume of new residential construction - Atlanta and Phoenix - in 1999 got off to dramatically different starts during the first month of the new year. However, given the fact that weather and other special factors (including the tardy official recording of issued permits) can distort these numbers for any particular month, it’s much too early to draw conclusions about the relative strength or weakness of the year 2000 residential market in any particular metropolitan area.

Noteworthy are the great January permit volumes realized by Kansas City, Columbus, Seattle, and Los Angeles. All four areas posted numbers more than 50% above their January 1999 levels. Impressive gains were also realized in areas as diverse as the Denver, Riverside-San Bernardino, Philadelphia, and Minneapolis metropolitan areas. Among the major home building markets, areas in Texas and Florida generally were slowest off the mark during the first month of this new year.

Recent Trends In New Residential Permits: 1999’s Top 25 Metro Areas (Preliminary Year-to-Date through January 2000)   # of Units Permitted Year-to-Date % Change Compared to Year Ago Atlanta, GA 5019 19.5% Phoenix-Mesa AZ 3131 -28.2 Washington DC 2895 6.4 Dallas TX 2189 -31.4 Houston TX 2068 -27.3 Orlando FL 1584 -54.6 Las Vegas NV 2117 7.5 Charlotte NC 1811 -26.9 Tampa-St. Petersburg FL 1394 -16.6 Minneapolis MN 1037 19.6 Denver 2400 39.5 Raleigh-Durham NC 782 -30.5 Riverside-San Bernardino 1549 34.7 Seattle WA 1558 66.3 Detroit MI 1063 13.9 Philadelphia PA 1277 21.3 Austin TX 1267 -8.6 Kansas City MO-KS 1238 75.9 San Diego CA 956 -47.6 Columbus OH 796 73.8 Indianopolis IN 709 -10.1 New York NY 1084 -13.6 Portland OR 796 -24.0 Los Angeles CA 1382 50.1 Source: U.S. Department of Commerce; Professional Builder