DALLAS-AXIOMetrics Inc.'s recent numbers concerning single-family and multifamily permitting indicate that the numbers continue on the rise. For the US over the trailing twelve months ending in February 2013, annual multifamily permitting increased by 43.9% (+85,791 units) to 281,188 units and single-family permitting was up by 23.2% (+99,983 units) to 530,667 units, over the comparable period a year ago.
The report also points out that the long-term average for multifamily permitting nationally is about 290,515 units, with the peak occurring in 2005 at 389,300 units. The trough in 2009 stood at 121,125 units. Though February permits were approximately 57% higher than the 2009 trough, permitting overall was 3% below the annual average and approximately 38% below the peak. AXIOMetrics believes multifamily permits will catch up to the historical average by the middle of 2013.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
