RELATED: Homearama highlights surge in residential development
A total of 181 residential new building permits — including single family, apartment and condo units — were issued in August, up 11.7 percent from 162 permits issued in August 2015.
The total amount of permits for the year to date is around 1,982, compared to the 1,348 issued last year and the 1,381 issued permits in 2014.
RELATED: Area residential building increases
The area has consistently seen these numbers grow throughout the year, and most area counties have seen an uptick in the amount of permits obtained for development.
Kathleen Unger, the executive director of the Home Builders Association of Dayton, told the Dayton Daily News in June that she attributed the growth to the economic upswing — people feel secure in their jobs and are more likely to invest in homebuilding or buying.
According to the National Association of Home Builders, there was a sharp decline in multi-family production across the nation. Newly released data from the U.S. Housing and Urban Development and the Commerce Department showed a 9 percent decrease in multi-family housing starts in September.
“After strong readings during the summer, multifamily production pulled back in September,” said Robert Dietz, NAHB Chief Economist. “Still, we expect the multifamily sector to post a good year in 2016, though down a bit from last year, which was likely the peak year for this cycle.”
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