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ABQ Metro Area Last In Housing Permits

ABQ Metro Area Last In 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.

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.

 

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Albuquerque’s definitive alternative newspaper publishing an inquisitive, modern approach to the news and entertainment stories that matter most to New Mexicans. ABQ Free Press’ fresh voice speaks to insightful and involved professionals who care deeply about our community.

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  • Joshua
    June 27, 2017, 4:49 pm

    This article is poorly written… it doesn’t even specify what the compare us to make us last in housing permits? I know its not a national ranking and barely regional. You can’t compare us to Phoenix and Denver as the article does…

    While we are lagging it should be put in perspective of our peer cities:
    El Paso: 1710
    Colorado Springs: 1874
    Tucson: 1161
    Albuquerque: 975

    Another way to look at it:

    El Paso has recovered 57% from their low of 1088 permits in 2009
    Albuquerque Has recovered 52% from a low of 642 permits in 2012. That is comparable even though they had 3 more years of recovery.

    Tucson 54% from their 2009 low of 751

    Colo. Springs wins this comparison though because they are 272% above their low in 2009.

    But when you look at these other cities hit rock bottom earlier than us and we have bounced back pretty close to their level.
     

    REPLY
    • paul seamans@Joshua
      June 29, 2017, 10:26 pm

      Brilliantly done. Cyclical but good solid growth APS would kill for that parcc test growth. Good stuff. Facts

      REPLY
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Dennis Domrzalski is managing editor of ABQ Free Press. Reach him at dennis@freeabq.com.

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