Building permits at all-time low in October

The new home market officially hit rock bottom last month as the city issued only two permits for the construction of single-family homes.

The two permits mark an all-time low for the city’s building department; the previous low was eight permits in a month – a feat that has occurred three times since the city’s inception.

Comparatively, the city issued 43 single-family permits in October 2009 and 25 in October 2008. Historically, October in one of the six busiest months of the year in terms of permits.

The city issued 12 permits in September.

The two permits issued bring the calendar year average to 17.3 permits and the fiscal year average to 8.75. The fiscal year runs July to June.