DC Has Second Highest Level of Construction Activity in the Country
✉️ Want to forward this article? Click here.
DC had the second highest construction activity in the country during the fourth quarter of 2011, Trulia’s Chief Economist Jed Kolko told UrbanTurf today.
In Trulia Insight’s latest post, Kolko took a look at building-permit data to sniff out where construction is booming. Generally, the US is showing an upward trend, with 10 percent more construction starts in the fourth quarter of 2011 compared with the previous year. Houston leads the pack, with more construction activity than any other city in the country, and DC comes in at #2. Detroit and Milwaukee were at the bottom.
Kolko said that 59 percent of new construction permits in the DC area were for multi-family projects, rather than single-family homes. Despite all this, permitting in DC is still 65 percent of the average during the period from 1990 to 2010.
The Trulia analysis came on the same day that the Census Bureau reported that new home starts and building permits across the country rose on a monthly and annual basis in January. Housing starts rose to an annual rate of 699,000, a 1.5 percent increase over December and a 10 percent jump from January 2011. Building permits were up 0.7 percent to 676,000 from January and a whopping 19 percent versus January 2011.
See other articles related to: census, housing starts, new construction, trulia insights
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dc_has_second_highest_construction_activity_in_the_country/5149.
Most Popular... This Week • Last 30 Days • Ever
Forest Hills Connection is reporting that the owner of the Days Inn along Connecticut... read »
The 67-room luxury hotel will be located at 3000 M Street NW, the site of the old Lat... read »
On Monday, the listing price for the 30,000 square foot home that was originally buil... read »
The eight-bedroom estate built by Banks Development along Chain Bridge Road will be l... read »
DC's Historic Preservation Review Board looks poised to approve changes for one of th... read »
- A Plan For More Development In Van Ness?
- Jose Andres Group Partners On New Georgetown Hotel
- The Price For Dan Snyder's Former Potomac Home Drops By $5 Million
- DC Home At Site Of Former Cafritz Mansion Set To List For $23.5 Million
- HPO Recommends Approval For Changes To 280-Unit Building At DC's Reservoir District
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro