What is US Building Permit

Photo by EJ Yao on Unsplash

What is it?

• Building Permits refer to the approvals given by a local jurisdictions before the construction of a new or existing building can legally occur.
• Not all areas of the United States require a permit for construction.

Who Reports It?

Building Permits report is released by the U.S. Census Bureau on a monthly basis.

How it is Generated?

• The Building Permits report gathers the data on all new construction permissions granted for residential buildings, housing units, commercial buildings, and warehouses within a specific time period.
• The Bureau conducts a survey among 9,000 permit issuers and publishes the data on the 18th working day following the end of the focused month. It also performs an annual survey among 11,000 permit-issuing authorities.
• It may take three months to establish an underlying trend for building permit authorizations, six months for total starts, and six months for total completions

Why it is important?

• Since all related factors associated with the construction of a building are important economic activities (for example, financing and employment), the building permit report can give a major hint as…