New Home Construction in the Midwest showed mixed results in March with a small increase from a year ago in the number of building permits issued but a decline in the number of new homes construction began on or was completed on, according to data released this week by the U.S. Commerce Department and U.S. Census Bureau.
New home construction activity in the midwest region of the U.S. in March (all figures shown are seasonally adjusted, annual rates)
- Building permits issued for new homes:
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- New home starts:
- 88,000 for March 2015, an increase of 22.2% from the month before and a decline of 17.3% from March 2014
- New home completions:
- 90,000 for March 2015, a decline 3.2% from the month before and a decline of 9.1% from March 2014
Permit data and other new home construction activity information for St Louis lags behind the national data so the data for March has not yet been released, however the chart below shows the percentage change from a year ago for permits issued in the St Louis metro area. As you can see, the latter part of 2014 as well as the beginning of 2015 have been lagging behind a year ago.
Percentage Change From Year Ago In Building Permits Issued In St Louis MSA for Single-Family Homes
Source: Federal Reserve – St Louis
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