Business

Construction Slows In June, But Remains Strong

Houston construction activity slowed in June, but building permit values for the year to date remain higher than for the same period in 2011.

The City of Houston issued building permits valued at close to $280 million in June, down 14% from June 2011. But building permits for the first six months of 2012 reached $2.2 billion, up 37% from the first half of last year.

Patrick Jankowski is vice president of research for the Greater Houston Partnership.

“Home sales are on the pace to sell 70,000 homes this year. Office rents are going up and the vacancy is going down. So, there’s a demand for more housing, there’s demand for more office space, demand for more industrial space. When the demand’s there, it’s a sign that business confidence is up and consumer confidence is up.”

Jankowski says the twelve-month total for construction is the strongest it’s been since August 2009, when Houston was just coming off a year of rebuilding from Hurricane Ike.

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graph designed by Greater Houston Partnership

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Andrew Schneider

Andrew Schneider

Politics and Government Reporter

Andrew heads Houston Public Media’s coverage of national, state, and local elections. He also reports on major policy issues before the Texas delegations in the U.S. House and Senate, as well as the Texas governorship, the state legislature, and county and city governments. Before taking up his current post, Andrew...

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