Single and multi-family construction permit activity diverge in recent months. Lower mortgage rates reinforce builder confidence, but consumers say it’s not a good time to buy a home and remain wary of a recession in 2020.
Colorado housing permits rebound from a slow start to the year. Consumer sentiment highlights the strong demand for housing while economic uncertainty challenges business planning efforts.
Denver housing permits didn’t “pop” as we might have hoped to start the favorable spring construction season, as the City approved just 764 single-family permits in March, little changed when compared to the first two months of the year. This means the permit total is down 27.5% year-over-year (from 1,054 in March 2018).
Denver single-family permits are trending down, totaling 1,024 in August and 858 in September. However, despite underperforming the forecast, the decline appears to be seasonal, with the permit totals little changed from one year ago (1,007 in 08-2017 and 902 in 09-2017).
Recently, news outlets have written that home construction and sales are plunging and crashing, with some arguing that we’re at “peak housing.” We’re not so worried yet.
Denver single-family permits are trending down, totaling 1,024 in August and 858 in September. However, despite underperforming the forecast, the decline appears to be seasonal, with the permit totals little changed from one year ago (1,007 in 08-2017 and 902 in 09-2017).
What is the yield curve, what does it mean when it’s “inverted,” and why is it important to the residential construction industry?
