New housing permits down in Lubbock - KCBD NewsChannel 11 Lubbock

3/8/09

New housing permits down in Lubbock

LUBBOCK, TX - (KCBD) NewsChannel 11 continues to track economic conditions on the South Plains.  Here's a look at new housing construction permits for the city of Lubbock.

These numbers are for new single-family homes:

In February the city granted 50 permits for houses with an estimated taxable value of $11.2 million.

That's way down from February 2008 when it was 76 new homes with an estimated taxable value of $15.3 million.

This is the continuation of a trend for the last several months.

Many jobs are connected to buying a new home such as furniture, carpet, home security, major appliances, landscaping, etc. That's why new housing starts are considered a major indicator of economic health.

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