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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  September 18, 2009  |   10 Markets Where Building Is Booming
The building business—both commercial and residential—is a seeing a recovery in some markets, especially those where military, government, and energy jobs are driving demand.

Lake Charles, La., which leads the nation, is an anomaly—it’s recovering from hurricanes—but the other markets are largely driving by economic growth. For instance, building permits for apartments in Huntsville, Ala., near the expanding U.S. Space & Rocket Center, have jumped 400 percent so far in 2009.

Many of the contracts are going to smaller local builders, but some of the giants are getting back in the game as well. KB Home resumed construction in the Mid-Atlantic, including Washington D.C., after pulling back earlier this year.

The top 10 growth markets, based on building permits, are:
  1. Lake Charles, La., 122.5 percent
  2. Beaumont-Port Arthur, Texas, 65.8 percent
  3. Salt Lake City, 36.6 percent
  4. Huntsville, Ala., 30 percent
  5. Jacksonville, N.C., 28.6 percent
  6. Augusta-Richmond County, Ga.-S.C., 21.6 percent
  7. Fayetteville, N.C., 12.2 percent
  8. Las Cruces, N.M., 11.6 percent
  9. Auburn-Opelika, Ala., 11.3 percent
  10. Little Rock-North Little Rock, Ark., 7.7 percent

Source: BusinessWeek, Prashant Gopal (09/18/2009)

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