New construction has been down in the last couple of years, but recently there has been an increase in new home sales. This is great news for the home building industry in the Portland metro area. In previous years, new construction sales have been 5% of the market and in 2012 it has increased by 3%. According to the Regional Multiple Listing there have been 10,802 closed sales through June 2012. Another great indication of the increase of new home construction is the amount of permits that have been pulled. The Construction Monitor reports that there has been 2,426 permits pulled in the Portland Metro area which includes Salem, Vancouver and Portland. The amount of permits accounts to approximate $574.8 million total combined value.