|
Single-Family Permits
| (Seasonally
Adjusted in thousands) |
|
 |
| MOST
RECENT STATISTIC: |
508,000 |
| Grade: |
D+ |
| PERIOD
COVERED: |
Dec. 2009 |
| Date
Released: |
01/20/10 |
| Next
Released: |
02/17/10 |
|
|
|
Dec-09 |
Nov-09 |
Oct-09 |
Dec-08 |
Dec-07 |
| Single-family
(000) |
508 |
469 |
449 |
370 |
742 |
| % Change |
-- |
8.3% |
13.1% |
37.3% |
(31.5%) |
| |
|
|
|
|
|
| Total (000) |
653 |
589 |
551 |
564 |
1,149 |
| % Change |
--
|
10.9% |
18.5% |
15.8% |
(43.2%) |
| |
|
|
|
|
|
_____________________________
Source:
U.S.
Census Bureau |
|
(5 Busiest States - Not
Seasonally Adjusted)
| |
Nov-09
|
Change from Last
Year |
 |
| Texas |
4,523 |
32% |
| Florida |
2,029 |
12% |
| North Carolina |
1,919 |
18% |
| California |
1,728 |
9% |
| Pennsylvania |
1,114 |
23% |
|
|
|
Analysis
for the Housing Market
By:Jonas Adams
Single-family permit issuance increased slightly in December, up 8% from the level seen last month to a seasonally-adjusted level of 508,000 permits issued. The number of single-family permits issued in December was 37% higher than the level seen in December 2008 and 32% lower than two years ago.
According to state level data, which lag the national figure by one month, each of the top five single-family permit issuance states in November were up between 9% and 32% from the level seen in November 2008. Texas held on to the top spot, with over double the number of permits of the next ranked state - Florida. Furthermore, single-family permits in Texas were 32% above the year ago level, a marked improvement from recent months.
Construction activity of single-family homes has slowed down by a considerable margin over the last two years. We expect permit issuance to continue to trend downward through the fourth quarter of 2009 and into 2010. Due to the current sales environment and growing new home inventory levels, plus increased competition from distressed property sales, builders have been taking out less permits in order to keep supply inline with demand and burn off excess inventory.
Definitions and Importance for the Housing Market
By:Jonas Adams
Data for U.S., regions, states and all metropolitan areas is from the U.S. Department of Commerce, Census Bureau, Construction Statistics Division. The year-to-date and annual data incorporate minor revisions of the corresponding quarterly figures. In most cases, these revisions are less than 2%. Except for the first quarter, which is a year-to-date compilation, the quarterly permit figures represent the sum of the monthly data in each quarter. Thus, some inconsistencies between quarterly and year-to-date figures may appear because Census Bureau revisions do not encompass monthly reports. Permits do not include conversions from non-residential uses and manufactured housing placements.
For more information, see:
http://www.census.gov/const/
C40/Table1/table1a.txt
|
