Future home contracts 22% lower than April '94April...

INDUSTRY WATCH

June 04, 1995

Future home contracts 22% lower than April '94

April contracts for future residential construction in Maryland were 22 percent lower than in 1994, according to figures released by the F. W. Dodge Division of DRI-McGraw Hill Inc. of New York. F. W. Dodge reported that contracts for one- and two-family houses and apartments totaled $198.5 million in April compared with $254.5 million during the same period last year.

Despite the April decline, residential construction in Maryland is up by 19 percent for the first four months of 1995 at 960.2 million compared with $807.9 million from January to April 1994.

In South, Ocean City No. 2 for vacation homes

Ocean City is the No. 2 vacation home market in the South and one of the top 21 second-home destinations in the U.S., according to a survey by Century 21 Real Estate Corp.

Scoring 69 out of a possible 100 points, Ocean City finished behind South Hill, Va., with 72 points. Rounding out the top five are Lake Marion, S.C., 68; Clayton, Ga., 67; and Emerald Isle, N.C., 63.

The markets were rated on their lifestyle, accessibility, affordability and market conditions.

Ocean City also placed fourth nationally in the accessibility ratings behind Bridgewater, N.H.; Lower Cape May Township, N.J.; and Sturgeon Bay, Wis., the No. 1 vacation home market.

Raffle of playhouses to aid Chrysalis House

Six decorative playhouses built by members of the Anne Arundel County Chapter of the Home Builders Association of Maryland are on display at the Annapolis Mall until June 11, when the playhouses will be raffled to raise money for Chrysalis House in Crownsville.

Chrysalis House is a women's recovery center providing residential treatment for chemically dependent women. Priority admission is given to pregnant women who are seeking to recover from their addiction.

Participating builders include Gilligan Homes, Weston Builders and Developers, R Lumber, Chesapeake Harbour Inc., KHI Construction Inc. and Lauer Construction Inc. Landscaping is provided by Robert Childs Landscaping and Broadneck Nurseries. Raffle tickets can be purchased at the mall for $5 each or three for $10. Information: 547-8000, Ext. 287.

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