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Orlando's home building market suffers 85.5% decline

Thursday 25.08.2011 (9 months ago)


How seriously has the recession damaged the construction industry? So severely that every market across America has suffered a decline in activity since 2005, with Orlando among the 65 metros that fell by 75 percent or more.

Orlando Business Journal sister publication On Numbers analyzed U.S. Census Bureau data for the 170 metropolitan areas that issued building permits for more than 2,000 housing units in 2005.

It found the Orlando area fell 85.46 percent from 36,137 units authorized in 2005 to 5,254 in 2010.
Every one of the 170 American markets in the study experienced a drop of at least 13 percent by 2010.

The Atlanta area experienced the sharpest decline of any major market, falling 89.6 percent from 72,861 units authorized in 2005 to 7,575 in 2010.

Source: Orlando Business Journal

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