Construction Pace Slows In Spokane, Kootenai Counties

Wed., Aug. 10, 1994

Bert Caldwell Staff Writer

July reports on construction permits in Spokane and Kootenai counties provide additional evidence that the region’s real estate market is slowing down after fast-paced growth in recent years. The number and value of building permits slipped in several jurisdictions compared with July 1993, including the incorporated areas of Spokane and Post Falls. The slip mostly reflects a cooler residential real estate market.

Commercial construction in Spokane County, including incorporated and unincorporated areas, squeezed out a small gain based on several small business buildings and one 87-unit motel.

However, single-family residential permits dropped in city and county alike.

The city issued 44 permits worth $4.6 million. Last July, there were 52 permits issued worth $4.7 million.

In the county, where activity so far this year has generally held up better than in the city, permit numbers dropped from 150 a year ago to 118 this year. Value also slumped, from $14.4 million to $12.4 million.

The Spokane Multiple Listing Service has noted a substantial increase in homes on the market in recent months. Prices have continued to climb, but the rate of appreciation has slowed.

Multifamily building was minimal, only three fourplexes and two duplexes.

Kootenai County jurisdictions reported a mixed performance.

The county issued 177 permits, an increase of 15 over July 1993. Value grew to $8.4 million from $7.7 million.

Coeur d’Alene turned in an even stronger performance. The 108 permits issued worth $5.1 million were up sharply from the 83 worth $4.3 million of a year ago.

But Post Falls faltered, clearing paperwork on 55 projects compared with 65 last July. Value was halved to $2.6 million from $5.3 million.

Kootenai County jurisdictions do not keep separate tallies on commerical and residential permits.

The most recent statewide numbers are from June, but local results generally mirrored statewide activity in Washington. Public works projects boosted construction totals in Idaho.

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Construction Pace Slows In Spokane, Kootenai Counties

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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