CITY CONSTRUCTION ALMOST TOTALS $48 MILLION IN 1992

It's official now: city building permits for more than $47 million in new construction were issued in Cape Girardeau in 1992.

"The exact figure is almost $48 million, at $47,996,699," said building inspector Rick Murray, supervisor of Cape Girardeau Inspection Service. "This may be the best year we have ever had. I know it's the best we've had during the past decade."

The permit lists include single-family residences, apartment buildings, commercial buildings, additions to residences and commercial structures and public buildings.

"We issued more than 1,900 permits in those categories," said Murray. "And we're off to a good start in 1993; we issued at least 28 permits in January for more than $2 million."

Murray said he is pleased with construction activity here last year.

"It shows that the community is growing," he said. "This has been a phenomenal year."

Two big projects Health Services Corp. of America and Southeast Missouri Hospital provided big boosts to construction this year.

"Most categories were up," said Murray. "In 1991 we issued 70 one-family home permits in the amount of $7.6 million, an average of about $106,000 each. During the past year we issued 89 permits (up more than 25 percent) in the amount of $10.6 million, an average of about $120,000."

The average price of new homes has shown a steady increase over the past six months and continued into January.

"We issued six home permits in January," said Murray. "Three of these permits were for more than $165,000, including one at $200,000."

Overall, the six permits totaled $820,000, averaging $136,667 each.

Nine permits were issued in 1992 for apartments or duplexes, in the amount of $879,000. In 1991, only two permits were issued, for a duplex, in the amount of $65,000.

"People were adding to their property in 1992," said Murray. "We issued 88 permits for carports, garages, storage buildings and swimming pools. That was almost three times as many permits as in this category in 1991."

Additions to commercial buildings were up in '92, with 87 permits for a combined total of $7.3 million. In 1991 only 61 permits were issued for commercial building additions, in the amount of $2.7 million.

The only category that was down in permits was that of commercial buildings.

"We issued 110 permits for commercial buildings in 1991, in the amount of $20.2 million, compared to only 34 in 1992, in the amount of about $12.5 million," said Murray. "But overall, permits and money totals were up, with 1,963 permits in the amount of $47,996,699, compared to 1,658 permits in 1991, in the amount of $31.7 million.

Constructions permits were also up in Jackson for 1992.

Robbie Roberts, Jackson building inspectors, reported 62 permits for new homes.

"This was down from 1991, when we issued permits for 65 new homes," said Roberts. "But it's up from the 10-year average of 43 homes a year."

The Jackson permit office issued a total of 722 building permits overall, 10 more than the 1991 total of 712.

The 1992 list includes three new business buildings and more than 18 expansions to existing buildings.

Meanwhile, home resale activities are up nationwide.

"Home resales were up 8.5 percent during the final quarter of 1992, compared to the same period a year ago," said a spokesman for the National Association of Realtors. "The increase ranges from 3.4 percent in Texas to 37.1 percent in Kansas."

Missouri home resale activity was up. The Show-Me state was second on the list of increases from the final quarter of 1991, with a 36.2 percent.

For the year, home sales were up 19.4 percent for 1992.

"Sales in all regions were up in double-digit terms." said economist David F. Seiders of the National Association of Home Builders. "The market is coming together throughout the country."

The departments of Commerce and Housing and Urban Development said sales totaled 608,000 last year, the most since 650,000 were sold in 1989. Sales fell to 534,000 in 1990 and to 509,000 in 1991.

Analysts continued improvement in the housing market this year as mortgage rates remain relatively low and consumer confidence in the economy rises.

Seiders said Home Builders are forecasting 675,000 sales this year. That would be the highest level since 676,000 homes were sold in 1988.

The median price of a new home edged up 0.1 percent to $120,100 last year. The median means that half of the homes cost more and half cost less.

Regionally, sales soared 24.7 percent in the Midwest, to 116,000 in 1992, with the median prices at $115.000. Sales jumped 20 percent in the South, to 258,000, with the median price at $104,900.

In the West, sales increased 17.4 percent to 169,000, and in the Northeast sales advanced 14 percent, to 65,000.