New Home Construction Dips in Little Silver, Oceanport

New Jersey is seeing a bump in home construction, according to a NJ Spotlight report.

New residential construction levels declined significantly in the late 2000s due to the recession but the industry is finally starting to rebound, NJ Spotlight said. There was a 38 percent increase in the number of homes built in New Jersey from 2009 to 2012.

But Little Silver and Oceanport are seeing a different pattern.

In Little Silver, nine permits have been issued through May for single-family units. In 2012, a total of 18 permits were issued for single-family units, a 28 percent decrease since 2009. Those figures compare to 2011’s 18 permits for single-family units, 2010’s 18 permits for single-family units and 2009’s 25 permits for single-family units.

NJ Spotlight’s interactive map also shows an increase in construction value in Little Silver. In 2009, the construction value per home was $182,824 while it rose to $300,001 in 2012 and $337,107 for 2013.

In Oceanport, three permits for single-family homes have been issued since May. In  2012, a total of five permits were issued for single-family units, a decrease of 16 percent since 2009. This compares to 2011’s six, 2010’s 16 of which 12 were single-family units and 2009’s six.

Construction value in Oceanport has also seen a slight decrease. In 2009, the construction value per home was $291,780; 2012, $239,420; and 2013, $283,233.

Rebuilding at the Jersey Shore post Superstorm Sandy could be a contributing factor to the 45 percent increase compared to the first five months of 2012, NJ Spotlight reported. But the state is also seeing a boom in building in areas that were not severely damaged by Sandy, especially in the construction of multifamily units.

Last year, 17,939 units were authorized statewide, an increase from the 12,952 in 2011, NJ Spotlight reported. Residential construction saw a real low in 2009 at 12,421, the lowest number of permits issued in more than two decades. The pre-recession high was in 2005, when 38,588 new housing units were authorized throughout the state.