Single-Family Home Numbers Begin to Rebound Post-Crash

After a dismal two years for new home construction in New Lenox, the village is starting to see a rebound in 2011.

In the first half of this year, 26 single-family home permits have been issued by the village, compared to just 23 total in 2010 and 21 for all of 2009. The housing market crash stunted New Lenox’s rapid growth that occurred between during the first seven years of the decade, with the population increasing about 6,000 people from 2000 to 2007.

“It’s positive seeing the number of houses that are being constructed,” said Warren Rendleman, the village’s building director. “It’s a good sign.”

New Lenox's progress appears better than the statewide numbers. In June 2011, the number of single-family home permits issued in Illinois decreased 15 percent compared to June 2010, according to the Illinois Statehouse News.

Single-family permits dropped off from 125 in 2007 to half that in 2008 and less than 25 per year since. For the village, the lack of revenue from permit fees hit the general fund: In 2007, the village made $316,694 off single-family home permit fees but just $83,909 in 2010.

New construction is a plus for the village, but there are still a number of vacant and unfinished homes that exemplify the toll the housing market crash took. As of June 21, there are 33 unfinished homes in New Lenox, and according to U.S. Census data released earlier this year there are 244 vacant homes.

According to Census maps produced by The New York Times, portions of New Lenox east of Cedar Road and South of Illinois Highway saw the biggest increase of vacant homes over the last decade. In part that has to do with the increase in homes, by the percentage increase of vacant homes in this area is far higher than the increase in new home units. Based on Census data, the Bluestone Bay subdivision is the lone area in town that had a decrease in vacant housing, with 63 percent fewer vacant homes since 2000.

Even though the effects of the housing market crash linger in the form of vacant and unfinished homes, the prospect of more single-family home construction is something the Village Board and staff were happy to hear about during a recent meeting. Here’s a look at single-family home permits issued between 2007 and 2011: