In a monthly, as well as a yearly perspective, building permit valuations in Anchorage declined drastically during the month of December 2006. The combined residential and commercial permits were valued at just $7.2 million in December 2006, compared to $25.25 million in November 2006. This represents a dramatic 81.8 percent decrease in the period of one month alone.
However, the yearly change is where the even more astonishing change occurs. Comparing commercial building permit valuations in November 2006 to December 2006 shows the most significant and drastic decrease, while a similar comparison of residential building permit valuations also shows decline.
The commercial permits were valued at $28.6 million in December 2005, compared with just $2.63 million one year later, December 2006. This represents a 90.8 percent decrease in one year. Residential permits were valued at $10.7 million in December 2005 and 4.5 million in December 2006, which represents a lesser, but still very significant, decrease of 57.7 percent in one year. Thus, both residential and commercial building activity experienced a sharp decline in permits issued during the period from December 2005 to December 2006.
Editor's note: While this report comes from the Municipality of Anchorage, other reports show an increase in commercial construction and a leveling off of residential construction.
Anchorage Building Permit Valuations In Millions Commercial Residential December 2005 28.6 10.7 December 2006 2.6 4.5 November 2005 18.9 6.4 Note: Table made from bar graph. ALASKA TRENDS FOR APRIL 2007 SPONSORED BY AMERICAN FAST FREIGHT Indicator Units Period GENERAL Personal Income - Alaska Millions of $ 3rd Q06 Personal Income - United States Millions of $ 3rd Q06 Consumer Prices - Anchorage 1982-1984 = 100 2nd H06 Consumer Prices - United States 1982-1984 = 100 2nd H06 Bankruptcies Alaska Total Number Filed December Alaska Business Only Number Filed December Anchorage Total Number Filed December Anchorage Business Only Number Filed December Fairbanks Total Number Filed December Fairbanks Business Only Number Filed December EMPLOYMENT Alaska Thousands December Anchorage Thousands December Fairbanks Thousands December Southeast Thousands December Gulf Coast Thousands December Sectoral Distribution - Alaska Total Nonfarm Wage & Salary Thousands November Goods-Producing Thousands November Service-Providing Thousands November Natural Resources & Mining Thousands November Logging Thousands November Mining Thousands November Oil & Gas Extraction Thousands November Construction Thousands...