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Tentative signs of recovery from the Great Recession
From Silverton Standard, the place where you can write!
Posted on January 03 2013, 10:33am by Mark Esper in Local News category
Foreclosures were down, real estates sales were up 23 percent and building permit activity was on the rise, indications that the Great Recession that hit Silverton along with the rest of the country in 2008-09 has eased considerably.
The San Juan County Treasurer’s Office recorded seven foreclosures in 2012, down from 11 in 2011.
The San Juan County Assessor’s Office meanwhile, recorded 32 property sales last year, up from 26 in 2011 and more than triple the 2008 figure of eight, when the real estate market here virtually collapsed.
Construction activity in San Juan County also took a big leap forward.
While the number of building permits issued in Silverton and San Juan County dropped from 49 in 2011 to just 34 in 2012, the value of the construction jumped 173 percent, from $690,009 in 2011 to nearly $1.9 million in 2012.


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