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…
