The latest information for single-family new construction permits shows that the number of permits and the annual dollar value of permits was down in February 2017 when compared to one year a ago.
The table below shows the number of permits fell 22% and the value permits declined 29% in February 2017.
The annualized information – located at the bottom of the table – shows that the number of permits have increased approximately 7.8% when compared to this time last year. However, the annual value of the permits has decreased by approximately 2.6% from one year ago.
The number of single-family new construction permits have experienced healthy annual gains since 2012 when six years of contractions ended.
The annual dollar value of the permits have also followed this trend. Since 2012 the dollar value of permits have increased by almost 100%.
However, as the chart below shows, the annual value of permits have remained relatively flat over the last 12 months.