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NJ Builders President Vallone Sees Housing Recovery in 2015

ATLANTIC CITY, NJ—Last year was the best year for homebuilding in New Jersey since 2006 and 2015 is likely to see a return to historic levels, according to George Vallone, the incoming president of the New Jersey Builders Association. Listen to audio from Vallone's exclusive interview with GlobeSt.com during Wednesday's session of the group's Atlantic Builders Convention in Atlantic City.

By Steve Lubetkin | Updated on March 26, 2015

ATLANTIC CITY, NJ—Last year was the best year for homebuilding in New Jersey since 2006 and 2015 is likely to see a return to historic levels, according to George Vallone, the incoming president of the New Jersey Builders Association. Vallone sat for an exclusive interview with GlobeSt.com during Wednesday’s session of the group’s Atlantic Builders Convention in Atlantic City.

“We had roughly 28,000 building permits pulled, which is the key indicator of new volume in housing starts,” says Vallone. “The average number of permits from 1960 to 2006 was 36,000 a year, so you can see we haven’t reached our historical level of building volume yet, but we’re well on our way, and I think that in 2015 we probably will hit that 36,000 starts number, so that bodes well that we are coming out of the recession now and we’re starting to get back to normal building levels.”

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