Fort Smith building activity underperforms in September, back into the negatives year-to-date

August giveth, September taketh away. After a big upswing from Van Buren and Greenwood that placed the Fort Smith metro region’s building activity 3% ahead for the year, a poor September performance from the city of Fort Smith itself caused a swing of over 11% to send levels back into the red.

For the year, the metro region – permits from Fort Smith, Van Buren, and Greenwood – logged $152.903 million in values against $166.443 million through the first nine months of 2016, a decline of 8.13%. The region finished August with a year-to-date gain of 2.98%. For the month, the region posted just $9.068 million in values against $26.775 million the previous year, a dip of 66.13%.

Over the last 30 days, Fort Smith posted just $7.792 million in values on 161 permits, a 69.44% drop from September 2016’s $25.494 million on 744 permits. The only major commercial permit of note was a $1.7 million item at 82 Rivercrest Drive — site of Riverlyn Pump Station’s mandatory construction as part of the city’s estimated $480 million federal consent decree.

Through the first nine months of the year, the metro’s largest city trailed the previous year with $126.497 million against $146.169 million — a decline of 13.46%. While numbers were also soft in August — down 17.7% — the discrepancy was steady enough that Van Buren and Greenwood could make headway with gains of around 300% each.

The smaller cities weren’t as helpful in September with Greenwood posting just $338,300 on five permits compared to $660,048 on six permits during the same 30-day period of 2016 — a decline of 48.75%. Van Buren was the only bright spot percentage-wise, going up 50.84% month-to-month, but with just $938,050 on 39 projects against September 2016’s $621,900 on 100, it wasn’t enough to move the needle. However, the two cities continue to perform well year-to-date with Greenwood up 59.46% with its $12.135 million in values against $7.61 million the previous year. Van Buren has posted $14.271 million YTD, a 12.69% improvement from last year’s $12.664 million.

REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2016: $213.734 million (With 75% of the year complete, the 2017 YTD is at 71.54% of the 2016 total)
2015: $218.899 million
2014: $198.983 million
2013: $202.389 million
2012: $154.64 million
2011: $201.079 million
2010: $149 million
2009: $164 million

Fort Smith
2016: $187.675 million (With 75% of the year complete, the 2017 YTD is at 67.4% of the 2016 total)
2015: $191.631 million
2014: $174.252 million
2013: $185.057 million
2012: $136.248 million

Van Buren
2016: $15.328 million (With 75% of the year complete, the 2017 YTD is at 93.1% of the 2016 total)
2015: $16.009 million
2014: $7.918 million
2013: $8.283 million
2012: $8.609 million

Greenwood
2016: $10.731 million (With 75% of the year complete, the 2017 YTD is at 113.08% of the 2016 total)
2015: $11.259 million
2014: $16.813 million
2013: $9.049 million
2012: $9.983 million