HOMES LEAD WAY AS CONSTRUCTION TOTALS INCREASE

Construction industry spending in Cape Girardeau has increased for a second straight month over last year, and is near the $44.5 million level of 1995.

November permit totals were reported at $3.8 million, compared to $2.9 million in November of 1995.

Overall construction spending for the first 11 months in Cape Girardeau is also up from 1995.

Going into December, permits had been issued in the amount of $43,061,545, compared to 11-month totals last year of $41,630,102

"We had a good November," said Rick Murray, building inspector and supervisor of the Cape Girardeau Inspection Services Division. Three commercial permits -- to KBSI-TV, Link Electronics and Pier I Imports, accounted for almost a million dollars, and four other smaller permits shoved the total passed $1 million.

Residential housing up

"Much of the increase for the month, however, is due to residential housing," said Murray. A total of 25 single-family housing permits were issued in November, at estimated cost of $2,472,700.

"You have to go back in a history a long time to find a month where 25 home permits were issued," said Murray. "We usually run from eight to 10 permits a month."

More than half of the permits (15) were for an affordable-housing project of three-bedroom, 1,000-square foot homes being constructed on vacant lots in the southeast portion of the city. These homes will run about $60,000 each.

Five of the permits were issued for $80,000 to $95,000 homes in subdivisions. At least two of the permits topped the $350,000 mark. The average cost of the 25 homes is $98,000.

"Home permits really picked up in November," said Murray. And, with a number of subdivision out there, we'll be seeing more family residences next year.

"What's really encouraging about this," said Murray, "is that we're seeing homes in some sought-after price categories, around the $100,000 mark."

Residential construction is up for the first 11 months of the year. Latest permit figures show a total of 82 single-family residences, 14 duplexes and 24 apartment units totaling $14,083,384. Last year's 12-month totals show only 57 single-family residences, 22 duplexes and 11 units of apartments for a total of $10.7 million.

Non-residential construction in Cape Girardeau for the first 11 months tops $25 million, up from 1995 totals going into the final month.

Statewide construction down

Missouri's October construction activity was down 8 percent from October of 1995.

October totals were at $518,694,000, compared to the $563,811,000 during October 1995, according to the F.W. Dodge Division of McGraw-Hill, an authority on the construction market. Dodge, which issues monthly totals in its Dodge Report, also publishes Sweet's Catalog Files.

The state's October nonresidential construction, which includes commercial, manufacturing, educational, religious, administrative, recreational, hotel, dormitory and other buildings, was $171,638,000, down 5 percent from $181,424,000 in October 1995.

Residential construction, which includes one and two-family houses and apartments, for the month was $217,193,000, down 7 percent from the $232,768,000 in October 1995.

Nonbuilding construction, which includes streets, highways, bridges, river and harbor developments, airports and a few other projects, was also down in October, at $129,863,000, compared to the $149,619,000 during the same month a year ago.

Construction is down 3 percent for the first 10 months at $5,233,009,000, down from the $5,399,460,000 of a year ago.

Residential construction for the year is up 14 percent, to $2.3 billion, from $2 billion a year ago. Ten-month totals for nonresidential construction is $1.9 billion, down 14 percent from $2.3 billion during the same time a year ago. Nonbuilding was down 12 percent, from $1.1 billion in 1995 to $997.2 million through October of this year.

Construction up nationally

Construction spending rose 1.8 percent in October, the biggest gain in seven months, despite continuing weakness in national single-family residential outlays.

Government spending, which had slumped throughout the spring and summer, was up for a second consecutive month.