A robust home construction market means the area is attracting people and jobs and is growing. And by that measure, Albuquerque is dead last.
That the Albuquerque metro area’s economy continues to struggle and stagnate is no secret.
In the year that ended May 31, the four-county area added a mere 500 jobs for a 0.1 percent growth rate.
Nor is it a secret that other major metro areas in the region have much stronger economies than Albuquerque does. One of the biggest indicators of the strength of an area’s economy is housing permits.
A robust home construction market means the area is attracting people and jobs and is growing. And by that measure, Albuquerque is dead last of any major area in the region.
Even Fort Collins, Colo., has had more housing permits – single and multiple family – pulled so far this year than Albuquerque. So has Colorado Springs, Oklahoma City, Reno and even Lubbock.
As of the end of May, 975 housing permits had been pulled in the Albuquerque metro area, according to the U.S. Census Bureau. That compares 3,446 permits pulled for the same period in 2004 during the area’s housing boom.
So, Albuquerque has a long way to go to recover.