Fort Smith Area Building Permit Values Down 43%

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Building permit values in Fort Smith, Greenwood and Van Buren, combined to total $10.954 million in August, up slightly from the $9.054 million July total, but way down compared to August 2011, when tri-city permit values tallied $26.533 million.

The month-to-month decline of 58.72% worsens year-to-date comparisons through the first eight months of the year to a 43.66% decline, down further from 40.5% through July 2012. Values through August 2012 are at $86.819 million for the three cities, compared to $154.099 million during the same period of 2011.

During the first eight months, Fort Smith claimed the largest share with $70.405 million (a one-year decline from $140.128 million of about 49.76%), while Van Buren was the next largest with $10.949 million (a one-year increase from $8.679 million of approximately 20.73%). Greenwood posted an additional $5.463 million, which was up slightly from last year’s $5.292 million (about 3.13%). Click here to read the full story from our partners at TheCityWire.com.