Last week there were 868 building permits for $127,951,567. That’s up almost 100% from the week before, which had 836 permits for $70,361,049. For the year, we just crossed 20,000+ permits and $2BN+ in estimated costs. That’s almost $800MM more construction costs this year than last.
Last week there were 833 building permits for $68,311,547.That’s down from the prior week, which had 870 permits for$ 81,993,500. Year to date we’re nearing the ~20,000 mark and $2BN in permits. It’s been a strong year.
It’s common practice for us to look back at the most recent month and dissect the trends. Typically, we look at the most recent month of data and compare it against the month before while also looking at year to date comparisons.
It looks like there is a pretty steady trend developing. For the week of May 14th, there were 867 permits filed for $78MM. The week before saw 861 permits for $92MM total.
Today we’re starting a new segment on the Local Insights blog. Every month we’ll break down the mortgage market leaders and examine how they compare by three property types, single family residential, multi-family residential, and commercial.