One of the reasons that land prices are stable is because home sales and starts are decreasing, she says. There will be an estimated 24,000 building permits issued this year in the metro area, which includes both single-family and multifamily, compared with 29,345 in 2000, she says. Last year's figures were 13% more than 1999.
In the first quarter of this year, there were 6,399 permits issued, down 15% from the 7,558 in the first quarter of 2000, she says.
In 2001, builders increasingly will have to deal with growth limitations, increased development costs from impact fees, and increased raw water costs.
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