Monday, December 26, 2016

Connecticut Modular Homes Starts Drop Sharply in 2016

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The number of housing permits issued in Connecticut last month plunged nearly 60 percent, according data released by the state’s Department of Economic and Community Development.

There were 209 new housing permits issued by 104 communities statewide last month, compared to the 515 that were issued in November 2015. Through the first 11 months of 2016, there have been 3,905 housing permits issued, a 21 percent decrease over the same period in 2015.

The percentage of modular homes of the total homes built in CT usually run about 10% which means that the number of modulars built dropped from approximately 496 to 391 in one year. Those 105 homes can be an entire year’s capacity for some factories.

New housing permits are considered to be a leading indicator of future economic activity because of the impact that home building has on other industries, such as banking, employment, construction and manufacturing.

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