DAYTON — Area homebuilders continue pulling more building permits than the same time in 2012, according to new data released by Home Builders Association of Dayton.
Homebuilders typically pull permits when they’re close to starting actual construction.
In May, 176 building permits were issued for construction of new single family homes, apartments and condominiums in Darke, Greene, Montgomery and Preble counties, northern Warren and Butler counties, and part of Miami County, according to the builders trade group. That’s a nearly 26 percent rise compared to 140 total new residential construction permits issued May 2012.
Year-to-date, local governments have issued homebuilders 691 permits. Activity rose 12 percent for the first five months of 2013 over the same time period in 2012. From January to May 2012, 617 new residential permits were pulled, according to the builders group.
The 176 permits for May 2013, is the most for the month of May since 2007 when 191 permits were issued. However, the number of permits in May 2013 is 28 percent of those issued in the peak month of April 2004 when 629 permits were issued, according to the builders trade association.
“The 12 percent increase in permits over 2012 is slightly above expectations of the industry for the upcoming few years,” said Walt Hibner, executive director of the Dayton builders group, in a statement. “The gradual, slow growth period in Dayton area home building should continue” due to rising home values, home buyer demand and steadily rising interest rates.
The single busiest subdivision continues to be Carriage Trails in Huber Heights, in Miami County, according to data provided to the builders group by Cincinnati real estate firm NPG DataQuest. Carriage Trails is a 625-acre mixed-used residential and commercial development by Columbus-based DEC Land Co. located north of the Interstate 70-Ohio 201 intersection.
There were 54 permits issued to Carriage Trails through the end of May, according to data from NPG DataQuest.
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