Tag Archives: Construction permit

Residential Remodeling for May 2013 is Up 11%

Residential Remodeling in May 2013

National Residential Remodeling

Residential remodels authorized by building permits in the United States in May were at a seasonally-adjusted annual rate of 3,560,000. This is 11 percent above the revised April rate of 3,201,000 and is 17 percent above the May 2012 estimate of 3,039,000.

Regional Residential Remodeling

Seasonally-adjusted annual rates of remodeling across the country in May 2013 are estimated as follows: Northeast, 721,000 (down 2% from April and down 25% from May 2012); South, 1,506,000 (up 9% from April and up 29% from May 2012); Midwest, 1,103,000 (up 55% from April and up 74% from May 2012); West, 723,000 (down 1% from April and down 6% from May 2012).

Viewing the Economic Recovery Through Remodeling

“Volatility in residential remodeling activity has continued through the first five months of 2013, with May showing significant gains from April in the South and Midwest, and modest drops in the West and Northeast,” said Joe Emison, Chief Technology Officer at BuildFax.

About the BuildFax Remodeling Index

The BuildFax Remodeling Index (BFRI) is based on construction permits for residential remodeling projects filed with local building departments across the country.  The index estimates the number of properties permitted.  The national and regional indexes are based upon a subset of representative building departments in the U.S. and population estimates from the U.S. Census.  The BFRI is seasonally-adjusted using the X12 procedure. For more details and historical index values, please visithttp://index.buildfax.com/.

About BuildFax

BuildFax is the creator of the first and only national database of historical building permit data. Headquartered in Asheville, North Carolina, BuildFax has created a proprietary property intelligence engine that contains building and permitting information from 5,000+ cities and counties throughout the country. As the best and only source of a structure’s “life story,” the BuildFax database continues to grow, currently covering over 60 percent of the U.S. commercial and residential building stock with over 6 billion data points.

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CR: Housing Starts increase to 917 thousand SAAR in February

Housing Starts increase to 917 thousand SAAR in February

by Bill McBride on 3/19/2013 

From the Census Bureau: Permits, Starts and Completions

Housing Starts:
Privately-owned housing starts in February were at a seasonally adjusted annual rate of 917,000. This is 0.8 percent above the revised January estimate of 910,000 and is 27.7 percent above the February 2012 rate of 718,000.

Single-family housing starts in February were at a rate of 618,000; this is 0.5 percent above the revised January figure of 615,000. The February rate for units in buildings with five units or more was 285,000.

Building Permits:
Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 946,000. This is 4.6 percent above the revised January rate of 904,000 and is 33.8 percent above the February 2012 estimate of 707,000.

Single-family authorizations in February were at a rate of 600,000; this is 2.7 percent above the revised January figure of 584,000. Authorizations of units in buildings with five units or more were at a rate of 316,000 in February.

Total Housing Starts and Single Family Housing StartsClick on graph for larger image.

The first graph shows single and multi-family housing starts for the last several years.

Multi-family starts (red, 2+ units) increased slightly in February.

Single-family starts (blue) increased to 618,000 thousand in February and are at the highest level since June 2008.

The second graph shows total and single unit starts since 1968.

Total Housing Starts and Single Family Housing StartsThis shows the huge collapse following the housing bubble, and that housing starts have been increasing lately after moving sideways for about two years and a half years.

Total starts are up about 90% from the bottom start rate, and single family starts are up about 75% from the post-bubble low.

This was at expectations of 919 thousand starts in February. Starts in February were up 27.7% from February 2012; single family starts were up 31.5% year-over-year. Starts in December and January were revised up, and permits were strong. I’ll have more later, but this was another solid report.

Read more at http://www.calculatedriskblog.com/2013/03/housing-starts-increase-to-917-thousand.html#4OTpRLvXdhEDMegM.99

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CR: Housing Starts decrease to 890 thousand SAAR in January, Single Family Starts Increase

Housing Starts decrease to 890 thousand SAAR in January, Single Family Starts Increase

by Bill McBride on 2/20/2013 

From the Census Bureau: Permits, Starts and Completions

Housing Starts:
Privately-owned housing starts in January were at a seasonally adjusted annual rate of 890,000. This is 8.5 percent below the revised December estimate of 973,000, but is 23.6 percent above the January 2012 rate of 720,000.

Single-family housing starts in January were at a rate of 613,000; this is 0.8 percent above the revised December figure of 608,000. The January rate for units in buildings with five units or more was 260,000.

Building Permits:
Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 925,000. This is 1.8 percent above the revised December rate of 909,000 and is 35.2 percent above the January 2012 estimate of 684,000.

Single-family authorizations in January were at a rate of 584,000; this is 1.9 percent above the revised December figure of 573,000. Authorizations of units in buildings with five units or more were at a rate of 311,000 in January.

Total Housing Starts and Single Family Housing StartsClick on graph for larger image.

The first graph shows single and multi-family housing starts for the last several years.

Multi-family starts (red, 2+ units) decreased sharply in January.

Single-family starts (blue) increased to 613,000 thousand in January and are at the highest level since 2008.

The second graph shows total and single unit starts since 1968.

Total Housing Starts and Single Family Housing StartsThis shows the huge collapse following the housing bubble, and that housing starts have been increasing lately after moving sideways for about two years and a half years.

Total starts are up about 86% from the bottom start rate, and single family starts are up about 74 percent from the post-bubble low.

This was below expectations of 914 thousand starts in January due to the sharp decrease in the volatile multi-family sector. Starts in January were up 23.6% from January 2012. I’ll have more later, but this was a solid report.

Read more at http://www.calculatedriskblog.com/2013/02/housing-starts-decrease-to-890-thousand.html#WtyC13bVtztXes3D.99

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Residential Remodeling in November 2012 is down 6%

Residential Remodeling in November 2012

National Residential Remodeling

Residential remodels authorized by building permits in the United States in November were at a seasonally-adjusted annual rate of 2,695,000. This is 6% percent below the revised October rate of 2,865,000 and is 2 percent above the November 2011 estimate of 2,633,000.

Regional Residential Remodeling

Seasonally-adjusted annual rates of remodeling across the country in November 2012 are estimated as follows: Northeast, 400,000 (down 6% from October and equal to November 2011); South, 1,081,000 (down 18% from October and up 2% from November 2011); Midwest, 565,000 (up 10% from October and up 2% from November 2011); West, 739,000 (down 1% from October and up 3% from November 2011).

Viewing the Economic Recovery Through Remodeling

“In November, remodeling activity for the nation showed signs of settling down for the winter, with 2012 as the fourth year in a row that residential remodeling activity has increased,” said Joe Emison, Chief Technology Officer at BuildFax.

About the BuildFax Remodeling Index

The BuildFax Remodeling Index (BFRI) is based on construction permits for residential remodeling projects filed with local building departments across the country.  The index estimates the number of properties permitted.  The national and regional indexes are based upon a subset of representative building departments in the U.S. and population estimates from the U.S. Census.  The BFRI is seasonally-adjusted using the X12 procedure. For more details and historical index values, please visit http://index.buildfax.com/.

About BuildFax

BuildFax is the creator of the first and only national database of historical building permit data. Headquartered in Asheville, North Carolina, BuildFax has created a proprietary property intelligence engine that contains building and permitting information from 5,000+ cities and counties throughout the country. As the best and only source of a structure’s “life story,” the BuildFax database continues to grow, currently covering over 60 percent of the U.S. commercial and residential building stock with over 6 billion data points

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Residential Remodeling in September 2012


BuildFax Remodeling Index

Data Release: November 21, 2012

Residential remodels authorized by building permits in the United States in September were at a seasonally-adjusted annual rate of 2,701,000. This is 12% percent below the revised August rate of 3,063,000 and is 5 percent below the September 2011 estimate of 2,854,000.

Regional Residential Remodeling

Seasonally-adjusted annual rates of remodeling across the country in September 2012 are estimated as follows: Northeast, 647,000 (down 17% from August and down 3% from September 2011); South, 1,121,000 (down 12% from August and up 12% from September 2011); Midwest, 474,000 (down 12% from August and down 24% from September 2011); West, 727,000 (down 10% from August and down 10% from September 2011).

Viewing the Economic Recovery Through Remodels

“September was a rough month for residential remodeling, but early returns from October appear to show an unusual jump, so we may just be seeing a significant percentage of deferred jobs,” said Joe Emison, Chief Technology Officer at BuildFax.

About the BuildFax Remodeling Index

The BuildFax Remodeling Index (BFRI) is based on construction permits for residential remodeling projects filed with local building departments across the country. The index estimates the number of properties permitted. The national and regional indexes are based upon a subset of representative building departments in the U.S. and population estimates from the U.S. Census. The BFRI is seasonally-adjusted using the X12 procedure.

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Housing Starts increased to 750 thousand in August

Housing Starts increased to 750 thousand in August

by Bill McBride on 9/19/2012 

Housing Starts:
Privately-owned housing starts in August were at a seasonally adjusted annual rate of 750,000. This is 2.3 percent above the revised July estimate of 733,000 and is 29.1 percent above the August 2011 rate of 581,000.

Single-family housing starts in August were at a rate of 535,000; this is 5.5 percent above the revised July figure of 507,000.

Building Permits:
Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 803,000. This is 1.0 percent below the revised July rate of 811,000, but is 24.5 percent (±1.7%) above the August 2011 estimate of 645,000.

Single-family authorizations in August were at a rate of 512,000; this is 0.2 percent above the revised July figure of 511,000.

Total Housing Starts and Single Family Housing StartsClick on graph for larger image.

The first graph shows single and multi-family housing starts for the last several years. Starts are slowing increasing.

Total housing starts were at 750 thousand (SAAR) in August, up 2.3% from the revised July rate of 733 thousand (SAAR). Note that July was revised from 746 thousand.

Single-family starts increased 5.5% to 535 thousand in August.

The second graph shows total and single unit starts since 1968.

Total Housing Starts and Single Family Housing StartsThis shows the huge collapse following the housing bubble, and that total housing starts have been increasing lately after moving sideways for about two years and a half years.

Total starts are up 57% from the bottom start rate, and single family starts are up 51% from the low.

This was below expectations of 768 thousand starts in August – mostly because of the volatile multi-family sector – but the key is starts are up solidly from last year. Right now starts are on pace to be up about 25% from 2011. Also note that total permits are up sharply from last year.

Read more at http://www.calculatedriskblog.com/2012/09/housing-starts-increased-to-750.html

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Housing Starts declined to 746 thousand in July

Housing Starts declined to 746 thousand in July

by Bill McBride on 8/16/2012 

From the Census BureauPermits, Starts and Completions

Housing Starts:
Privately-owned housing starts in July were at a seasonally adjusted annual rate of 746,000. This is 1.1 percent below the revised June estimate of 754,000, but is 21.5 percent above the July 2011 rate of 614,000.

Single-family housing starts in July were at a rate of 502,000; this is 6.5 percent below the revised June figure of 537,000. The July rate for units in buildings with five units or more was 229,000.

Building Permits:
Privately-owned housing units authorized by building permits in July were at a seasonally adjusted annual rate of 812,000. This is 6.8 percent above the revised June rate of 760,000 and is 29.5 percent above the July 2011 estimate of 627,000.

Single-family authorizations in July were at a rate of 513,000; this is 4.5 percent above the revised June figure of 491,000. Authorizations of units in buildings with five units or more were at a rate of 274,000 in July.

Total Housing Starts and Single Family Housing StartsClick on graph for larger image.

Total housing starts were at 746 thousand (SAAR) in July, down 1.1% from the revised June rate of 754 thousand (SAAR). Note that June was revised from 760 thousand.

Single-family starts decreased 6.5% to 502 thousand in July.

The second graph shows total and single unit starts since 1968.

Total Housing Starts and Single Family Housing StartsThis shows the huge collapse following the housing bubble, and that total housing starts have been increasing lately after moving sideways for about two years and a half years.

Total starts are up 56% from the bottom start rate, and single family starts are up 42% from the low.

This was slightly below expectations of 750 thousand starts in July, but the key is starts are up solidly from last year. Right now starts are on pace to be up about 20% from 2011. Also note that total permits were at the highest level since 2008.

Read more at http://www.calculatedriskblog.com/2012/08/housing-starts-declined-to-746-thousand.html

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