Even though the numbers are down a bit from last year, construction in Norman seems to be weathering the housing slump as well as can be expected, a city official says.
Pat Copeland, building official for the City of Norman, said Friday that despite the huge downturn in housing across the nation, Norman is holding pretty firm.
"I think Norman is doing a little better than other communities in the state, but that seems to be the case with Norman," Copeland said.
In October, Norman issued 22 single-family home permits compared with 60 a year prior. For the year, Norman has issued 284 single-family home permits compared with 496 a year prior.
Copeland said those numbers are a bit misleading, noting that 174 of the permits reflect the construction of the Cottages at Norman near the University of Oklahoma campus.
"You take those away and the numbers are more like 325 versus 284," he said. "That's really not that big of a difference."
Copeland said starter homes, those costing about $100,000, seem to be getting a lot of permits. He also said more expensive homes, those costing $350,000 or more, are faring well, too.
"It's the homes that cost between about $180,000 and $350,000 that aren't looking good right now," Copeland said. "Homes outside that are doing better right now."
Copeland said interest rates and construction costs are low right now, counting those as big factors accounting for higher activity in the bigger ticket homes and starter homes. He also said the first-time home buyer tax credit is helping, too.
And overall, including commercial permits, the numbers aren't really far off last year.
In 2008, Norman had building permits filed valued at $177 million. With permits worth $151 million this year, Copeland said 2009 should end up about the same as last year, maybe a tad lower.
But things are still down.
Both 2008 and 2009 are well below 2006 levels, which Copeland said is a good year for comparison. In 2006, the city issued permits for 669 single family homes and the year ended with building permits filed valued at $211 million.
The next year, 2007, was record-setting, Copeland said, with permits filed totaling $314 million. He said the new hospital west of I-35 accounted for nearly a third of that.
"I think what we're seeing now is our housing industry kind of catching up with the national one," Copeland said. "But it could be worse, all things considered."
Andrew Knittle 366-3540 aknittle@normantranscript.com
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