New Home Permits slide by 60%

Permits for the construction of new homes in the Albuquerque metro area declined nearly 60 percent in December 2007 compared to the same month in 2006, according to research firm DataTraq.
There were 390 permits issued in December 2006. The 161 permits issued this past December were down by just nine permits from the previous month. Although home building traditionally slows during the colder weather months, the decline in the number of permits issued is significantly lower year-to-year.
DR Horton Homes was issued the most permits in 2007, with 586. Following Horton as the builders with the most permit activity last year were: Pulte Homes, Centex Homes and KB Home, each of which had more than 300 permits issued for the construction of new homes.
The figures come from DataTraq's January Albuquerque New Housing Market Letter. DataTraq supplies housing permit data to several homebuilder organizations in New Mexico, including the Home Builders Association of Central New Mexico.