Housing permit activity down again in Pittsburgh
Pittsburgh Business Times
Pittsburgh's new housing market took yet another beating in the second quarter, with permit activity falling 8.2 percent from the same period last year, according to a report from Ross-based Tall Timber Group.
January through June, 1,151 permits were issued for single-family detached units, which was down 8.2 percent from the same period last year.
Construction of single-family attached and multi-family units remained flat, with 641 units started in the second quarter, one more than during the second quarter last year.
The overall housing market was down 5.4 percent in the six-county Pittsburgh region, representing the lowest level of activity since 1991.
"It's interesting to note that housing is moving well within the city of Pittsburgh, especially since the heart of the region's economy, health care and technology, are based there," said Jeff Burd, president of Tall Timber Group, in a statement. "In the traditional suburban markets, though, new construction is stuck in neutral."
Tall Timber had previously forecast the beginning of a recovery through the second half but has extended that prediction.
"That will probably not play out," Burd said in the statement, "at least not until there is some real positive news on the national level."
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