Building Permits Up Slightly Since June

Building permits nationwide were issued at a seasonally-adjusted annual rate of 1.632 million units during July, an increase ofa slight 0.4% from July 1998, but 0.5% lower than in June 1999.

By Daryl Delano, Cahners Economics | September 30, 1999

Building permits nationwide were issued at a seasonally-adjusted annual rate of 1.632 million units during July, an increase of a slight 0.4% from July 1998, but 0.5% lower than in June 1999. Through the first seven months of this year, residential permits totaled almost 980,000--6.1% more than for the same period in 1998, and slightly better than the 5.2% increase in total starts.

 

New Residential Building Permits By Region
Year-to-date through July 1999
  # of Units Permitted Year-to-date % Change Compared to Year Ago
TOTAL U.S. 979,611 6.1%
NORTHEAST 95,116 9.3%
 New England 28,019 1.9%
 Middle Atlantic 67,097 12.7%
MIDWEST 193,113 6.3%
 East North Central 135,306 7.3%
 West North Central 57,807 3.9%
SOUTH 450,463 6.6%
 South  Atlantic 281,675 11.9%
 East South Central 53,786 1.1%
 West South Central 115,002 -2.2%
WEST 240,919 3.8%
 Rocky Mountain 115,205 -0.8%
 Pacific Coast 125,714 7.9%
Source: U.S. Department of Commerce; Professional Builder

Over-the-year permit growth has been strongest in the Northeast (+9.3%), although almost all of the gain here has been realized in the Middle Atlantic states. Total permits issued for new home construction in the New England states increased less than 2% from a year ago during the first seven months of 1999.

Total permits issued in the Rocky Mountain states through July of this year actually came in a bit lower than the total for the January-July 1998 period. Although total permits issued in the state of Arizona continue to grow at a healthy clip-up 7.9% so far this year-permit volume has fallen in Nevada, Utah, Colorado, and New Mexico.

Also See:

Consumer Confidence Down, Better Than Last Year

Double-digit Earnings Growth Belies Investors

Permits Remain Strong

Housing Starts Up

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