The Norman Transcript

August 18, 2013

More homes, more sales


The Norman Transcript

NORMAN — The number of Norman building permits issued for single family homes through July is slightly ahead of last year’s permit count. That’s good news for builders who have weathered some tough economic conditions over the past five years.

Through July in 2013, builders and owners applied for 238 single family home permits. The average construction value was up too, with the 2013 average value being $201,044.

Non-residential permits for the month were lower in number but slighty higher in value. The average non-residential construction project was $937,210.

Nationwide, builders saw a better summer, too. The U.S. Department of Housing and Urban Development said housing starts increased 20.9 percent from July 2012 levels. The July report showed a 5.9 percent monthly increase over the previous month.

Locally, Realtors are reporting better months, too. The Norman Board of Realtors’ June 2013 report shows a 13.62 percent increase in closings over 2012 with a 16.5 percent higher sales price. Homes were on the market fewer days and the supply of homes was down 12.8 percent over 2012 levels.