Saturday, April 16, 2016

Interactive Map: Tracking New Jersey’s Sluggish Home Construction Industry

Figures for 2015 show that the number of building permits for residential construction continues a downward trend from 2005.

New Jersey's employment picture is looking up, but residential construction has not yet recovered from last decade's Great Recession, data shows.

Preliminary numbers for building permits issued for housing construction in 2015 indicate a continuing downward trend from the peak this century in 2005. That year, the data from the state Department of Community Affairs showed that New Jersey municipalities issued nearly 40,000 permits for residential units. Last year's roughly 19,300 permits were slightly less than half the number of a decade earlier.

It was also down from 2014, which had logged the most housing permits issued since 2007, the year in which the recession officially began. In 2014, officials issued almost 22,900 permits, or about 16 percent more than last year.

CLICK HERE to read the entire NJ Spotlight article

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