After the inspection department’s adjustment at the end of the year, single-family housing permits for 2011 will be higher by about 50 units of what was issued in 2010. Total residential units, including apartments, condominiums, townhouses, and single family residence permits are down by about 215 units from last year; a 23 percent decrease. But single family shows a glimmer of light by trending up by about 7.5 percent over last year.
The measure of the economy in Chesterfield is its residential building permits. Single-family new construction is the most obvious revenue for the county if you consider ongoing property taxes, although multi-family construction brings more revenue per acre.
There wasn’t much movement from last year’s numbers early in 2011 but there was an upward swing toward the end of the year, over a 20 percent increase in the quarter. This year’s total will reach about 690 single-family homes compared with 1,864 in 2006, the year that home building began its decline. In 2007 Chesterfields total starts were 1,376; 2008 saw a decrease to 855; 2009 ended with 690 and 2010 moved downward again to 642.
The housing trend in Chesterfield is mirroring the national trend according to the U.S. Commerce Department. “September marked the strongest pace of residential construction since April of 2010.”