Bayou City residential permits dropBayou City residential permits drophttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=143452016-08-25T05:00:00Z2016-08-25T16:00:00Z

​​​​HOUSTON – Local apartment developers are working on fewer​ new projects in an oversupplied residential market.

​Permits overall totaled $962.3 million in July, down 1.6 percent from last year, according to city data reported​ by the Greater Houston Partnership.

The value of residential permits dropped 61 percent to $161.2 million. Apartment building permit values fell 87 percent to $33.6 million​ while the value of single-family permits dropped 23 percent to $97.4 million.​

In contrast, the value of nonresidential permits rose 40 percent to $801.1 million.

Year-to-date city building permits are down 8.6 percent to $4.4 billion.

The trends are tracked by Houston's Department of Pub​​lic Works & Engineering Planning & Development Services division.

Houston Chronicle
Houston-The Woodlands-Sugar Land
http://www.chron.com/business/bizfeed/article/Houston-residential-permits-take-a-dive-9182250.phpRead more at {Source}

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