Massachusetts Building Permits Decline

By
Real Estate Agent with Buyers Brokers Only, LLC

The Boston Herald reported September 14, 2007 that building permits for new homes in Massachusetts have declined more than 35 percent since 2005.

"A review of U.S. Census statistics by the Herald shows that building permits issued to state contractors for new single-family homes fell by a whopping 36 percent through the first seven months of 2007, compared with the same period in 2005, the peak year for home construction this decade."

The number of building permits issued for all housing units, including condominium, multi-family and other types, dropped to 9,224 during the first seven months in 2007 compared to 13,404 units two years ago, a 31 percent decline.

"Despite recent weakness in the housing market, state economic development officials have said the scarcity of affordable homes in Massachusetts has been a major obstacle to attracting businesses and talented workers to the Bay State. The drop in new building permits does not bode well for easing that shortage."

Read The Boston Herald Article

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