APRIL 2018 PERMITS SOAR TO HIGHEST LEVEL FOR APRIL SINCE 2006

Based on residential permit data compiled by the Home Builders Association of Southeastern Michigan (HBA) and reported in the HBA Southeastern Michigan Residential Building Activity
Report, a total of 496 single-family permits were issued in Macomb, Oakland, St. Clair and Wayne counties in April 2018. The result was up 5 percent from March (473), up 13 percent from April 2017 (441) and brings the year-to-date total to 1,521 for the second best start to a year since 2006.

Perhaps more exciting is the fact that the number of permits issued in April 2018 was the highest level for the month of April dating back to 2006 when a total of 655 single-family permits were issued. The results for April reflect burgeoning demand for new home construction, likely combined with permits delayed due to adverse weather conditions to start 2018.

Not to be outdone, the 508 multi-family rental unit construction permits issued thus far mark the fastest pace to start a year since 1998 (1,340).

Demand for newly constructed homes should remain strong throughout 2018. Drivers to increased activity include historically low existing home inventories combined with steady year-over-year growth in the number of people employed across the 4-county area.

NOTE: The graphs presented above - along with additional data and charts - can be found each month, in larger format, by going to www.builders.org; Log in using your Member ID#, Mouse Over the menu item "Building News & Metrics" Selecting "Industry Related Metrics" from the fly-out menu.

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