WEST BLOOMFIELD — Based on single-family new home permit data compiled by the Home Builders Association of southeastern Michigan and reported in the HBA/Wells Fargo Southeastern Michigan Residential Building Activity Report, a total of 507 single-family home permits were issued in Macomb, Oakland, St. Clair, and Wayne counties in May 2013.
May 2013 was the first time that permits have exceeded 500 since August 2006, when the 575 permits were issued.
From a year-over-year perspective, permit activity in May was nearly 17-percent higher than May 2012, when 435 permits were issued. From a trailing 12-month perspective, the 4-county total of 4,122 permits is 36-percent higher than May 2012 (3,027) and the highest level since August 2007 (4,055).
Macomb County set the pace in May with 239 permits issued. May’s permit activity in Macomb County was 73-percent higher than April 2013 (138) and 24-percent higher than May 2012 (193). This was the first time since July 2006 that Macomb County exceeded the 200-permit threshold in a single month.
Oakland County exceeded 200 permits for the first time in 2013 with 207 issued. This is only the second time since August 2006 that more than 200 permits were issued in a single month in Oakland County. Elsewhere, Wayne County issued 56 permits and St. Clair County issued five.
Finally, the HBA/ASA New Housing Permit Forecast projects a total of 2,866 permits will be issued in the 6-month, June-to-November timeframe, representing a 37-percent growth in permits compared to the same 6-month period in 2012.
This report is based on an algorithm created by HBA’s CEO, Michael Stoskopf. The report includes a 6-month forecast and a trailing 12-month perspective.
