Home construction slipped the first half of the year compared to midyear 2013, but sales are making up for it, leaving inventory about to dip below a four-month supply.
Construction, judging by building permits issued, was off 4.5 percent in the metro area, even with rebuilding in Moore and south Oklahoma City from the May 3, 2013, tornado.
Permits were off 7.8 percent in Oklahoma City and 24.2 percent in Edmond, according to the Central Oklahoma Home Builders Association. Permits were up 4.4 percent in Norman and 76.5 percent in Moore.
Rebuilding on the south side kept the construction slowdown from being steeper. If construction in Moore had been equal to the first half of last year, permits would be off 9 percent across the metro area.
Builders blame a shortage of ready-to-build lots, but said new developments in the works should see construction this fall.
Builders are selling what they’re building so fast it caused a significant dip in the number of new houses on the annual Southwest Showcase of Homes, which starts this weekend and goes through Aug. 3.
The event, co-presented by the Moore Home Builders Association and Southwest Home Builders Association, has 24 homes open free to the public daily. It usually has close to 40 or more entries.
Details on the homes and maps are available in the Real Estate Section in metro-area editions of this issue and in free racks in 7-Eleven stores in Moore, Norman and south Oklahoma City.
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