New home construction up 2 percent year-to-date

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New home construction up 2 percent year-to-date

New residential construction in the Dayton area rose 2 percent from January through July over the same months of 2012, based on new building permit figures released Friday by the Home Builders Association of Dayton.

Year-to-date residential building permits through the end of July increased 2 percent to 1,042 permits. During the same time period of 2012, 1,022 permits were issued to builders ahead of construction. Numbers include permits for construction of single family homes, apartment and condominiums.

The majority of permits issued are for single family homes, for which 952 permits have been issued through July, up 13 percent compared to a year ago.

“The 2 percent increase in permits over 2012 is slightly below expectations of the industry for the upcoming few years. The anticipated gradual, slow growth period in Dayton area home building will continue as rising home values, home buyer demand with household growth and steadily rising interest rates will be the major drivers,” said Walt Hibner, executive director of Dayton Home Builders Association, in a statement.

In the Dayton area, builders pulled 202 permits just in July for single family and multi-family construction, the Dayton Home Builders Association said. A year ago, 196 permits were pulled in July 2012.

The 202 permits for July 2013 are the most for the month of July since 2007 when 211 permits were issued, according to the builders group. However, the number of permits issued last month is 32 percent below those issued in the peak month of April 2004 when 629 permits were issued.

The Dayton area consists of Greene, Darke, Miami, Montgomery and Preble counties and the northern parts of Butler and Warren counties, for the builder group’s purposes.

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