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r <br />If WARREN & ASSOCIATES <br />LandDesian, Inc.: Harrisbura Area Land Use Plan <br />5.2 Single - Family Detached Residential Market <br />Annual building permit, closing, and new unit price trends for for -sale residential product have <br />been provided through the Market Opportunity Research Enterprises (M.O.R.E.) data system. <br />M.O.R.E. data provides a comprehensive listing of all residential units sold within the Planning <br />Area, including new construction and resales. <br />M.O.R.E. data is reported by township. Data has been collected and analyzed for Township 1 in <br />Cabarrus County, as this geographic area aligns closely with the Planning Area. A comparison <br />of Township 1 and the Planning Area is shown on Map 4. <br />5.2.1 New Single - Family Detached Building Permit Trend <br />More than 11,000 new single - family residential permits were issued in Cabarrus County between <br />January 2003 and September 2009. Permits peaked in 2006 at 2,416 units (Graph 8). Permit <br />issuance declined after 2006 as a result of the national housing crisis. As of September, only 268 <br />residential permits had been issued in Cabarrus County in 2009. <br />Graph 8: New Single Family Permits, Township 1 & Cabarrus County, 2003 -2009 <br />3,000 <br />2,500 <br />2,000 <br />â– Cabarrus County <br />â– Townships <br />1,500 <br />1,000 <br />500 <br />0 <br />2003 2004 2005 2006 2007 2008 2009YTD <br />Nate: 2009 through September. <br />Township 1 residential permits followed the same trend as Cabarrus County, peaking with 430 <br />permits issued in 2006. Only 42 new single - family permits had been issued in Township 1 in the <br />first three quarters of 2009, representing 15.8% of the County. <br />5.2.2 Single - Family Detached Closing Trend <br />There were 3,723 new and resale residential closings in Township 1 between 2003 and <br />September 2009, ranging from 184 units in 2009 to 736 units in 2006 (Table 10). New closings <br />represented 53.4% of the total, ranging from 33.7% in 2009 (year -to -date) to 60.6% in 2005. <br />New closings averaged 321 annually, while resale closings averaged 269. <br />March 2010 APPENDIX D: HALUP MARKET ANALYSIS 17 <br />AUGUST 2010 <br />Attachment number 2 <br />G -1 Page 426 <br />