Home Building Permits Slump Across Country
July 15, 2009, 5:42 PM
When it comes to new homes, building permits have slumped since last year across South Dakota. According to the National Association of Home Builders, through the first five months of the year, home building permits in South Dakota dropped by 39 percent. But other states are seeing bigger building busts.
The fact that homes are still being built in South Dakota is a positive sign for the local economy. National statistics show home building permits dropped by 25 percent in the Sioux Falls area so far this year and 38 percent in Rapid City.
But towns like Bismark, North Dakota wish they were seeing those kind of numbers. The capital city of the neighbors to the north have seen a 61 percent slide in new home construction since the beginning of the year. And Sioux City, Iowa has seen an even bigger drop at 66 percent.
Some cities in other parts of the country aren't seeing any new homes being built. Kokomo, Indiana has seen a 91 percent drop in new home building permits this year, the largest decrease in the country. Battle Creek, Michigan isn't far behind with an 89 percent drop in new home construction.
But building is booming in Texas. Texarkana, Texas has actually seen a 223 percent increase in new homes and Beaumont, Texas isn't far behind, having issued a total of 490 home building permits this year.
There are seven major cities in the country that haven't issued any new home building permits this year.
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