March 2016 Building Permits

Thursday, May 19, 2016

The March figures are interesting. Single family permits were 21% ahead of March last year. Single family permits have historically risen during the first quarter of each year. The ever erratic multi’s were down 25%. I noticed a trend that I hadn’t detected before. Over the past few years multi’s have had a downward trend through the first quarter. Then they pick up. Since the gestation period of a multi-family project is so long, this pattern is probably meaningless.

Here is a link to the Florida Realtors website that provides a summary of home sales activity, Total sales are down 10% versus last year, yet there were 10% fewer homes on the market this year. However, the average sale price is up a healthy 6% from the first quarter average of last year.

As I hurtled through space, one thought kept crossing my mind - every part of this rocket was supplied by the lowest bidder. – John Glenn

David Sumner 5/19/2016

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