Home construction in Tulsa already tops last year's total
BY ROBERT EVATT World Staff Writer
Saturday, December 29, 2012
12/29/12 at 5:50 AM
Even with a 12th month of data not yet available, Tulsa-area home construction in 2012 has blown past the total for all of last year thanks to a strong November.
New Orders Weekly reported Friday that metro builders broke ground for 224 houses last month, up 27 percent from October and 30 percent above November 2011.
Last month's construction total was the best for November since 2007, when 319 home starts were recorded, the data-tracking service said.
Single-family home construction stands at 2,177 through Nov. 30. Not only is that 31 percent ahead of the first 11 months of last year, but also it's 22 percent higher than all of 2011, the slowest year for construction in at least a decade.
This year's improvement over 2011 has stayed relatively consistent, with every month showing significant gains over a year earlier except for a virtual tie in July.
Still, area home construction has some catching up to do to match the pre-recession pace, which ranged from 3,635 construction starts in 2001 to 4,997 in 2005.
Around the metro area, Broken Arrow - the traditional leader in construction - had the most home starts last month at 38. Its total of 367 through Nov. 30 is behind Tulsa's total of 375.
Nationally, the most recent data from the Department of Housing and Urban Development and the U.S. Census Bureau indicates that single-family housing starts declined 4.1 percent in November to a seasonally adjusted annual rate of 565,000 units.
Original Print Headline: Home starts top 2011 total
Robert Evatt 918-581-8447