ABQ home construction falls flat - Albuquerque Journal

ABQ home construction falls flat

Jt030717i
Homes under construction at the Mirehaven Subdivision by Del Webb. (Jim Thompson/Albuquerque Journal)

Flat is the new black in the Albuquerque new housing market.

The number of home building permits issued last month for the Albuquerque-area increased nearly 10 percent — from 131 in May to 144 in June.  While that was a slight rise, June’s numbers were not as good when compared to the same month last year, when 184 home building permits were issued, according to data obtained through the Albuquerque New Housing Market Letter, a monthly publication by DataTraq.

Building permits for single-family homes, an indicator of future construction, have totaled 832 so far this year, according to DataTraq. Nearly 1,800 new-home permits were pulled last year in the metro; the number for 2015 was 1,645.

The numbers show home building activity in the Albuquerque metro area — which includes the city, Rio Rancho, Los Lunas and the unincorporated Bernalillo County —  is “just flat,” said John Garcia, executive vice president of the Home Builders Association of Central New Mexico.

“It could be better,” said Garcia.

He said HBA members are staying busy on other fronts: sub-contracting on some of the new apartment projects rising in town, handling remodeling jobs and moving into commercial construction.

That scenario is unlikely to change anytime soon — not until the economy improves to a level that stimulates the kind of residential construction that resulted in 4,000 permitted homes each year in the 1990s, according to Garcia.

He’s hopeful permit activity will pick up later in the year. “Fourth-quarter peformance” has been the best period in the last two years, said Garcia.

The report said Pulte Group pulled the most permits in June (42), followed by LGI Homes (12).  Most of the permits are in subdivisions that will see new construction. Northwest Albuquerque and Rio Rancho combined took up 74 percent of the permits issued last month. Sixty percent of the permits were for homes in the $150,000 to $250,000 price range.

Each new home built creates, on average, the equivalent of three jobs for a year and generates about $90,000 in taxes, according to the National Association of Home Builders.


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

Nativo Sponsored Content

taboola desktop

MORE ARTICLES LIKE THIS

1
NM has no omicron cases, but struggles with delta ...
ABQnews Seeker
Signs show virus surge could be ... Signs show virus surge could be slowing in state
2
NM weighs use of federal money for broadband
ABQnews Seeker
Stimulus, infrastructure bills offer chance, legislators ... Stimulus, infrastructure bills offer chance, legislators told
3
Police say driver in fatal DWI crash traveling at ...
ABQnews Seeker
19-year-old was arrested four days earlier ... 19-year-old was arrested four days earlier in Roswell drunken-driving wreck
4
Sunport has second-busiest stretch in 20 months
ABQnews Seeker
65,000 holiday travelers reported over 5-day ... 65,000 holiday travelers reported over 5-day period
5
1 killed in fight south of UNM
ABQnews Seeker
Homicide detectives are investigating after a ... Homicide detectives are investigating after a man died in a fight in an alley near the University of New Mexico Monday night. Officer Daren ...
6
Campaign cash, real estate money fueling City Council runoffs
2021 city election
Nonpartisan races will determine political balance Nonpartisan races will determine political balance
7
Five killed in June balloon crash died of blunt ...
ABQnews Seeker
A toxicology report on late pilot ... A toxicology report on late pilot Nick Meleski found he had marijuana and cocaine in his sy
8
Pre-winter warmup brings highs 10-20 degrees above average
ABQnews Seeker
Rain chances for state expected to ... Rain chances for state expected to be slim until early next week
9
New trial begins for Rio Arriba sheriff
ABQnews Seeker
James Lujan is charged with helping ... James Lujan is charged with helping a friend avoid arrest in 2017
10
Cloud seeding company retracts application
ABQnews Seeker
Proposed project drew opposition from locals, ... Proposed project drew opposition from locals, organizations over 'potential for environmental damage'