For-Sale Residential Permitting Trends
Sales and permit data suggest that the recovery is progressing more
rapidly in Chesapeake City than in the MSA, which is a good sign for
Dominion Boulevard. In Chesapeake, average annual single-family
permits hovered at 650 from 2008 to 2011, rising slightly in 2012 and in
2013 by 18%. In 2013, 911 single-family permits were issued in
From 2008 to 2012, an annual average of 3,200 single-family permits
were issued in the MSA. Meaningful gains were realized in 2013, in
which single-family permits increased 16% from 2012. However, this
post-recession level is only approximately almost half of pre-recession
highs.
Chesapeake, the highest since 2005 but still 36% below the historical
average from 1995 to 2007.
Multifamily permits in Chesapeake have returned and even exceeded
pre-recession levels. Virtually no multifamily permits were issued in
2006 and 2007, but 2008 through 2013 saw a strong recovery. In 2013,
Multifamily permitting in the MSA was the lowest in 2010, with 817
issued. 2011 through 2013 saw a rapid recovery, and in 2013,
multifamily permits reached close to pre-recession levels. Like in
Chesapeake, multifamily permits have been an increasingly large
portion of total permits, reflecting the strength of the rental market.
749 multifamily permits were issued, captured 45% of total permits.
This level of multifamily permitting has not been seen since 1987.
Single-Family and Multifamily Permits
Virginia Beach-Norfolk-Newport News, VA-NC MSA; 1990-2013
Single-Family and Multifamily Permits
Chesapeake; 1990-2013
60%
70%
80%
90%
100%
8,000
10,000
12,000
60%
70%
80%
90%
100%
2,000
2,500
3,000
20%
30%
40%
50%
2,000
4,000
6,000
10%
20%
30%
40%
50%
500
1,000
1,500
0%
10%
0
SF Permits
MF Permits
% MF
0%
0
SF Permits
MF Permits
% MF
Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40
45
Source: HUD State of the Cities
Source: HUD State of the Cities
