Fort Wayne-area homebuilders sought 32 permits in January, a 10.3 percent increase from the 29 issued in January 2010, a report released Tuesday showed.
Information from the Home Builders Association of Fort Wayne showed the average home price for the month was $231,105, compared to $176,264 in January 2010. Last month, the group said the area ended 2010 with 662 permits, compared to 679 in 2009. The association tracks activity in Adams, Allen, DeKalb, Huntington and Wells counties.
The association also announced that Fort Wayne was named by Remodeling Magazine as one of the top 100 markets for home remodels based on anticipated performance over the next four quarters. The magazine considered 366 metropolitan statistical areas. Fort Wayne ranked 92nd. Cincinnati was No. 1. This is the magazine’s first such forecast.
As new home construction continues to drag, remodeling represents a bright spot, said Maurine Holle, executive director of the association.
Dow extends streak of gains to 7th day
The Dow Jones industrial average closed higher for the seventh consecutive day Tuesday.
It’s the longest series of gains for the index since July.
McDonald’s Corp. was the biggest gainer of the 30 stocks in the Dow, rising 2.6 percent after reporting January sales that were higher than analysts expected.
Investors took in stride a move by China’s central bank to control inflation by raising short-term interest rates.
The Dow Jones industrial average rose 71.52 points, or 0.6 percent, to close at 12,233.15. The index has had only one down day in the last 10, on Jan. 28 when the protests in Egypt escalated.
Dana investment expands axle business
Dana Holding Corp. said Tuesday it completed a deal for the rights to distribute truck and bus steering axles now made by a company in South America.
The Maumee, Ohio, auto parts supplier, which has operations in Fort Wayne, said it bought the rights from SIFCO S.A. Dana will add the commercial vehicle axles to its product offering in South America, giving it a full line of commercial driveline products there.
Dana said the deal is part of its emerging markets strategy that included a recent joint venture investment announcement in China.
Dana said it invested $150 million to get the rights to the business, which is expected to generate $350 million in annual revenue.
Available job postings fall again in December
Employers posted fewer jobs in December, the latest evidence that businesses are not ready to step up hiring.
The Labor Department said Tuesday that employers advertised nearly 3.1 million jobs in December, a drop of almost 140,000 from November and the second straight monthly decline. That’s the lowest total since September.
United, Continental pace airfare increases
United and Continental airlines are raising fares on some U.S. business travelers by $20 to $60 for a round-trip ticket.
The airlines, both owned by United Continental Holdings Inc., raised fares Tuesday on first class and instant-upgrade coach tickets.
AMR Corp.’s American Airlines and Delta Air Lines Inc. said they matched the increases.
