Need some good news on a rainy Monday afternoon? Well, this story should do the trick. Business Week just released a list of the top twenty markets across the nation where building permits are on the rise.
Don't have time to read the whole story? Here's the "cliff notes".
10 Markets Where Building Is Booming
The building business—both commercial and residential—is a seeing a recovery in some markets, especially those where military, government, and energy jobs are driving demand.
Lake Charles, La., which leads the nation, is an anomaly—it’s recovering from hurricanes—but the other markets are largely driving by economic growth. For instance, building permits for apartments in Huntsville, Ala., near the expanding U.S. Space & Rocket Center, have jumped 400 percent so far in 2009.
Many of the contracts are going to smaller local builders, but some of the giants are getting back in the game as well. KB Home resumed construction in the Mid-Atlantic, including Washington D.C., after pulling back earlier this year.
The top 10 growth markets, based on building permits, are:
Lake Charles, La., 122.5 percent
Beaumont-Port Arthur, Texas, 65.8 percent
Salt Lake City, 36.6 percent
Huntsville, Ala., 30 percent
Jacksonville, N.C., 28.6 percent
Augusta-Richmond County, Ga.-S.C., 21.6 percent
Fayetteville, N.C., 12.2 percent
Las Cruces, N.M., 11.6 percent
Auburn-Opelika, Ala., 11.3 percent
Little Rock-North Little Rock, Ark., 7.7 percent
Source: BusinessWeek, Prashant Gopal (09/18/2009)
There now, doesn't that make this rainy Monday a little better.