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February 19, 2008

R.I. home construction slows further

Rhode Island home construction slowed last year, with the number of single-family building permits falling 9 percent for the second straight year, according to a report from the Rhode Island Builders Association.

There were 1,458 single-family building permits issued last year, compared with 1,606 permits in 2006.

Home construction in the state as measured by single-family building permits has been falling every year since 2000, with the overall number of permits during the last seven years down 35.4 percent, according to the Builders Association data.

The steepest one-year drop recorded by the Builders Association was in 1995, when single-family building permits fell 11 percent.

During the next four years, home construction activity picked up, with building permits from 1995 through 1999 climbing nearly 28 percent. Of the 39 cities and towns, building permits last year declined in 24 communities, increased in 14, and remained unchanged in one, according to the report.

-- John Kostrzewa

Posted by Jack Perry  at 11:29 AM | Permalink

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