ROSELAND, NJ—Homebuilding in the Garden State got off to a rocky start in January with building permits falling by approximately 20% from last year.
The U.S. Census figures show that nationally, building permits rose by approximately 2%, last month, according to The Record. Homebuilding in New Jersey rose 35% in 2013, led by multifamily construction. The 24,270 building permits filed were the highest level of activity since 2007.
Noting that one month's activity is not a trend, Patrick O'Keefe, an economist with CohnReznick, a Roseland, NJ-based accounting firm says the downturn may be due to month-to-month volatility of multifamily permits. See story in The Record.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
