Lawton Area Construction Permits Remain Steady!

Industry Observer with Collateral Specialist Inc

The construction permits topped out at over $8.2 million last month, due to steady new home construction new constructionalong with commercial and nonprofit ventures. There were a total of 18 new home permits issued valued at nearly $3.1 million. This figure is down from the August total, but up from the same period last year.

The average number of closing also increased from an average 106.8 to 157 per month for the past six months (March - August), couple with an average price increase of approximately 13%. The new construction sales numbers increase from 149 (March - August 2008) to 181 for the same period this year (March - August 2009).

thumbs upMany of these improvements are thought to be occuring for several reasons; improved consumer confidence in the Lawton area, very attractive interest rates, the arrival of new families (BRAC). Although the influx of the military families has not had any large immediate effect; many hold off from buying right away due to frequent deployments, having homes in other parts of the country that are not experiencing the same results as Lawton and the rest of Oklahoma has. But in the next two to three years there is expected another construction boost.

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