A total of 401 single-family construction permits were issued across Macomb, Oakland, St. Clair, and Wayne counties in April, according to data compiled by the Home Builders Association of Southeastern Michigan (HBA) in Farmington Hills.
Multi-family home construction permits also saw a large uptick with 122 permits issued, all in Macomb County.
The first four months of 2017 saw a total of 1,593 single-family permits issued, sustaining the best start to a year for new home permits in the four-county area since 2006, when 2,426 permits were issued.
The report indicates that higher levels of employment and a decreasing quantity of available homes has fueled the increase in new home construction. As reported by Realcomp, residential real estate sales for April rose by 6 percent compared to April 2016, while inventory levels declined by 24 percent.
According to information from the U.S. Bureau of Labor Standards, the number of people employed in the four-county area exceeded 1.9 million for the first time since Dec. 2007, and employment grew 2.5 percent compared to April 2016.
Based on the organization’s econometric model, HBA projects a strong summer construction season and says 2017 remains on pace to have the most new home construction since 2006.
