Received Building Bridges, the newsletter by the Delaware County Engineer, today and it has even more proof that the Delaware, Ohio market is slowing down.
| Year | Subdivisions | Lots | Roads |
|---|---|---|---|
| 2001 | 87 | 2,253 | 15.13 |
| 2002 | 62 | 1,516 | 28.21 |
| 2003 | 63 | 1,590 | 14.02 |
| 2004 | 37 | 860 | 9.73 |
| 2005 | 42 | 664 | 17.01 |
| 2006 (thru 8/1) | 20 | 271 | 5.6 |
Pro-rate 2006 through the end of the year and you are looking at…
“Delaware County is experiencing a significant slow down in the number of new lots and streets. This trend is consistent with a dramatic reduction in new housing starts across the country.”
While I have little doubt that Bauserman and his office is right, I would love to see a comparison between the other “hottest” markets in the nation. Since, Delaware County was listed as the 15th fastest growing county in the nation last year, it would be interesting to see the county stacks up across the country.
If other markets are seeing the same reduction it is very scary to be a builder. I’ve been hearing rumors all summer that 75% of central Ohio builders are going to be bankrupt by the end of the year. In June we laughed at it, in July it was a little more subdued, and by now it isn’t funny. We are seeing builders with spec homes on the market for tens of thousands of dollars off, because they can’t afford to carry the inventory.
Will make a nice Christmas present for someone.
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