Home building continues decline
March 27th, 2008, 11:57 am · Post a Comment · posted by Kyle Arnold
McALLEN - The Upper Rio Grande Valley registered a slight increase in residential building permits last month but continued its home construction freefall with the poorest February since 1997.
Builders filed 312 building permits in February in Hidalgo County, 10 more than in January, according to the U.S. Census Bureau.
The local home construction industry has been on the decline since late 2006. Many say the local home market was overbuilt during the peak years for 2004 to 2006. Slower existing home sales has also pushed down demand.
Kyle Arnold
