Construction might be down, but is it a slump?

Spokane’s overall real estate market and economy are doing well, but construction permit values are down in Spokane and Spokane County, reported Greater Spokane Inc. in its Spokane Regional Business Barometer newsletter.

During the second quarter of this year, permits were issued on $183.6 million in projects, as opposed to $271.1 million last year.

But construction is up in Spokane Valley, with that city issuing 14 percent more permits for 18 percent more value than last year.

Local economist Randy Barcus of Avista Utilities pointed out that there were some large projects last year. With Kendall Yards on the horizon, those values should pop back up in the future.