Total value of building permits (SA)
- Building permits for December 2021 came in weaker than expected at -1.9% versus -1.6% estimate
- Prior month was revised to +7.6% from 6.8%
- the total value building permits came in at 11.2 billion in December
- residential permits decreased -2.7% to $7.7 billion versus a strong November gain of 13.3%
- multifamily permits fell -6.0% to $4.1 billion
- single-family homes were up 1.3% to $3.6 billion
- For 2021 early permits search 25.6% to $126.5 billion. That was the strongest annual growth ever recorded. However material prices and labor costs increased accounted for almost 2/3 of the increase. On a concert dollar basis the total value building permits still increase by a robust 9.3% to $88.5 billion
- In 2021, residential sector permits were up 29.9% to a record $87.2 billion.
- Single-family permits in 2021 increased 41.5% to $40.7 billion representing 81,000 new units the most since 2013
- multifamily permits also had a record high for the year rising 21.1% to $46.5 billion in 2021
- nonresidential sector in 2021 was up 17.1% to $39.6 billion
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