New Residential Permit Volume Through August 2002

Permit volume throughout the nation rose by 3.7% during the first eight months of this year, but only 12 of the Top 25 metropolitan areas in 2001 managed gains through the first eight months of 2002 when compared with January-August of 2001. The Atlanta area recorded 45% more permits than any other metro area in the United States, but this sprawling city's total volume through eight months of this year was running 2.6% behind its January-August 2001 total.

Permit volume has risen solidly this year in a number of moderate-size metro markets, including Des Moines, Iowa (+65.9%), McAllen-Edinburg, Texas (+19.6%), Norfolk-Newport News, Va. (+17.0%), Birmingham, Ala. (+16.3%), Charleston, S.C. (+16.0%), Mobile, Ala. (+13.8%) and San Antonio (+13.0%). And Florida's metro markets - almost without exception - recorded strong gains in residential permit volume during the first eight months of this year. In addition to the solid increases in Tampa and Orlando, smaller metro markets that have had increased momentum in home construction during 2002 include Ocala (+68.4%), Fort Pierce (+56.3%), Melbourne (+49.7%), West Palm Beach-Boca Raton (+36.2%), Sarasota-Bradenton (+24.7%), Pensacola (+23.9%) and Fort Lauderdale (+14.2%).