The Number Of Construction Permits Is On The Rise

According to the US Department of Commerce”, the number of building permits issued in the month of October increased by 5.1% to 1, 145 million in rate annualized against 1.030 million in September. This indicator is at its highest level since 2006.

Conversely the number of housing projects has slightly declined and reached 1.004 million in annualized pace. There is however an increase of 6.5% over the month of October 2014. As the number of development of construction of single-family house, this increased by 5.4% to 675 400 against 669 000 in September.

These indicators were already above the forecast announced last month. For the month of October, they bear witness once again to the gradual recovery of the real estate sector in the United States.
Finally to complete these good statistics of real estate, the NAIOP index, the Trade association for developers, once again increased to reach 61 and thus increase 5 points from October. After this new increase, the index almost found its value for the month of September which was 59.

Recall that a NAOIP with a value above 49 indicates that real estate sales forecasts are favourable.