Chicago emerged as the third-largest area for new home construction last year, by virtue of a better-than-14% increase in permit volume from the 1998 total. Chicago had been the sixth-largest metro market for new home construction during 1998. Washington and Dallas rounded out the Top 5 for residential activity last year, although neither achieved any forward momentum during the year. Permit volume was flat (but at a very healthy level) between 1998 and 1999 in the Washington, D.C. area, but fell by more than 9% in the formerly hot Dallas market.
Jumping into the Top 10 last year was the Charlotte metropolitan area, on the strength of a nearly 20% increase in residential permit activity. The Tampa-St. Petersburg area also cracked the Top 10 barrier for the first time ever, as permit volume rose almost 23% between 1998 and 1999.
On the strength of solid double-digit gains in residential permit volume, cities that burst into 1999’s Top 25 included San Diego, Columbus, Kansas City, Los Angeles, and New York City. Among the areas falling just short of the Top 25 - but in most cases with solid growth in permit totals - were San Antonio, Nashville, Sacramento, and St. Louis.