A 22 increase in 2010 to 8790 permits appeared to

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: rmits through August were up a miniscule 0.1%. Year 2003 2004 2005 2006 2007 2008 2009 Both the 2010 increase and the leveling off in 2011 were influenced by federal homebuyer tax credits, which boosted activity in the first half of 2010. That the industry was able to match this tax creditassisted activity of 2010 during the first two-thirds of 2011 is evidence of fundamental stability. The market for new single-family housing seems to have bottomed out, but has yet to show evidence of improvement from these low levels. Consumer confidence in the region remains near historic lows, undoubtedly influenced by reports of continued year-over-year home value declines reported by the Federal Housing Finance Agency (FHFA) and by S&P/Case-Shiller. These continued 2010a 2011b 2012c Residential $6,258.2 8,050.3 8,803.4 8,708.1 7,417.0 4,041.8 2,501.3 2,903.0 2,697.5 3,088.4 Nonresidential $2,712.9 3,291.4 4,221.2 4,641.1 5,259.5 4,116.7 3,126.2 2,967.3 3,100.0 3,200.0 Total Building Nonbuilding...
View Full Document

This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

Ask a homework question - tutors are online