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Updated: 10:49 p.m. Wednesday, July 28, 2010 | Posted: 10:48 p.m. Wednesday, July 28, 2010
By Tim Tresslar
Staff Writer
DAYTON — June residential permits issued in the Dayton area fell 38 percent, one of the steepest monthly declines this year.
Meanwhile, a separate report indicated foreclosure activity in Greene, Miami, Montgomery and Preble counties grew during the first half of the year.
Permits for single-family homes, condos and apartments plummeted to 137 in June versus 222 during the same month one year ago, according to the Home Builders Association of Dayton.
“June’s permit data indicates the local home-building industry continues to bounce along the bottom like an anchor dragged by a ship in rough seas,” Walt Hibner, executive director of the local HBA said in a statement. “As the national economy calms and home buyer confidence improves, the housing industry will begin to gradually gain traction and slowly move in a positive direction.”
In an interview, Hibner said uncertainty around the economy and the outcome of the November elections have prompted some to delay new home purchases.
In addition, too few new jobs coming into Dayton and too many existing homes on the selling block also are pressuring demand for new homes, he said.
“The sense I have is, it’s going to be like this for awhile,” Hibner said. “I think we’re in for some more ups and downs between now and when we really start to pull out of it.”
For the first six months, permits fell by 13.5 percent to 868, versus 1,004 one year ago, HBA officials said.
Permits for single-family homes for the first six months dropped 3.1 percent to 695, versus 717 during the comparable period in 2009, officials said.
A separate report issued Wednesday, July 28, said the Dayton metropolitan area saw a jump in foreclosure activity during the first six months of this year.
The number of properties in the Dayton Metropolitan Statistical Area that received a notice of default, an auction notice or that were taken back by the bank rose to 5,168 during the first half of this year, according to RealtyTrac. This marks a 9.6 percent jump over the same period last year, RealtyTrac said. It translates into one in every 74 properties receiving a filing of some kind during the first half of the year, the Irvine, Calif.-based company said.
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