Fast Fact: Houston Rates Highest Growth in Building Permits
Metro areas across the U.S. are suffering with tightening housing inventories and rising home prices, but some areas are having better luck with building permits and new housing construction in an attempt to turn the tide, according to data from U.S. Census Bureau Building Permits.
Among the largest metro areas (over 1.5 million housing units), Houston leads the way with 21 percent growth last year. Boston and Atlanta both have over 15 percent growth, while Phoenix and Los Angeles have over 10 percent.
By far, Chicago and Detroit are experiencing the worst negative growth in residential building – down 23.8 and 23.9 percent from 2017 Q2 to 2018 Q2.
Overall, smaller MSAs making the list of high permit growth include Charlotte, N.C., Phoenix, AZ, Austin, TX, and Salt Lake City, UT.
For an in-depth look at the data, click here.