The top two areas in terms of sheer volume of new residential construction - Atlanta and Phoenix - in 1999 got off to dramatically different starts during the first month of the new year. However, given the fact that weather and other special factors (including the tardy official recording of issued permits) can distort these numbers for any particular month, it’s much too early to draw conclusions about the relative strength or weakness of the year 2000 residential market in any particular metropolitan area.
Noteworthy are the great January permit volumes realized by Kansas City, Columbus, Seattle, and Los Angeles. All four areas posted numbers more than 50% above their January 1999 levels. Impressive gains were also realized in areas as diverse as the Denver, Riverside-San Bernardino, Philadelphia, and Minneapolis metropolitan areas. Among the major home building markets, areas in Texas and Florida generally were slowest off the mark during the first month of this new year.
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PB Topical Ref
