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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
PB Topical Ref
