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New Construction Home Sales, Signs of Life, O'Fallon, IL

By
Real Estate Agent with Equity Fifty Five Realty, LLC

New Home construction in O'Fallon, IL has signs of new life.

Home construction in O'Fallon has been down significantly over the past 18 months. But in March 2010 it has taken a move upward with 19 new single-family home permits being issued by the Planning and Zoning Department. In March 2009 there was only 9 permits issued.

So far this year there from January thru March 2010 that has been 24 permits issued for new single family homes, up slightly from the 22 that were issued during that same period in 2009.

In 2005, which was the best year for new construction homes in O'Fallon there was 384 permits issued, and for all of 2009 there was 100 permits issued in O'Fallon for new single family homes.

O'Fallon, IL has retained its position as the 5th fastest growing city in the St. Louis Metro region during 2010, as well as the fastest growing city in the Metro East. O'Fallon has held this ranking for the past several years during both the peak home construction period from 2002-2007 and also during this economic recession.