Business

Number of housing permits in July down 38% from ’09?

As the economy continued to take its toll on the housing market, the number of housing permits issued in Connecticut in July fell about 38 percent from a year earlier, the state Department of Economic and Community Development reported Wednesday.

Across the 128 cities and towns the department tracks, 278 permits were issued last month, down from 446 that were issued in July 2009.

Last month’s total was relatively flat compared with June’s 247 permits, but year-to-date activity continues to lag 2009’s pace.

Through the first seven months of this year, 1,622 permits were issued statewide, down nearly 14 percent from 1,880 that were issued in the first seven months of last year.

Among Greater New Haven municipalities, Milford issued the most permits in July with seven, followed by Wallingford with five and Cheshire with four. New Haven issued no permits.

The real estate market is struggling to rebound.

In a separate report Wednesday, the U.S. Department of Commerce released data that showed sales of newly built homes fell 12.4 percent in July, compared with June, to the slowest pace on records dating back to 1963.

Last month, new homes sold at an annual sales pace of 276,000.

Wednesday’s grim reports came on the heels of news Tuesday from the National Association of Realtors that confirmed July was a tough month for the real estate industry: Sales of existing homes fell to 15-year lows.

Call Cara Baruzzi at 203-789-5748.


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