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Housing permits up 7 percent in region in first 9 months

THE BALTIMORE SUN

Total housing permits in the Baltimore-Washington region increased 7 percent during the first three quarters of this year to 38,861 units vs. 36,282 a year ago. Single-family permits increased 6 percent, and multifamily activity rose 11 percent.

Permits rose 23 percent in the Hagerstown area, 9 percent in the Baltimore area and 6 percent in the Washington area, according to Robert J. Sheehan, president of Regis J. Sheehan & Associates, a management and market research firm based in McLean, Va.

In September, housing-permit activity in the region rose for the third straight month, driven by 40-year lows in mortgage interest rates, Sheehan said. "Permit activity in September was the highest for that month since 1999, and the 1999 level was the highest since 1989," he added.

Permits were issued in the greater metro area for 4,236 units in September vs. 3,418 units a year earlier, a 24 percent rise. Single-family permits increased 23 percent to 3,408 units from 2,770 units in September 2001. Multifamily permits rose 23 percent to 828 units from 648 units a year earlier.

Housing-permit activity increased 7 percent in the Baltimore metro area during September. A total of 848 units were issued permits vs. 792 units a year earlier. Single-family permits increased 29 percent while multifamily permit activity dropped 62 percent.

(Table on Page 4L)

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