Nov
12

Greenville Housing Starts Down But Better Times Predicted

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November 12, 2008

By Angelia Davis – Greenville News

Housing starts in the Greenville metro area are down now, but a national trade group expects a better scenario early next year.

Robert Denk, assistant vice president for forecasting and analysis at the National Association of Home Builders, said because the area didn’t engage in a lot of the “housing boom excesses” seen in other markets, it is expected to be back on its feet and growing in early 2009.

“The relative restraint of Greenville in terms of both prices and production is a very good factor and puts that market in a very good position to come out of this housing correction earlier and stronger than some of the other markets,” he said.

Greenville’s restraint has not made it immune to the impact from such things as the subprime market meltdown, which has affected credit markets throughout the country and put a lot of downward pressure on building activity nationally, Denk said.

Like markets throughout the nation, building permits are down in Greenville. Knoxville, Tenn.-based The Market Edge said Greenville had 1,515 residential building permits on file at the end of September. The area had 2,847 the same time last year.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.greenvilleonline.com/article/20081112/BUSINESS/811120337/1001/ARCHIVE
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