Building permits continue upward trend
October 22, 2018
- Building permits continue upward trend Building permits in St. Louis City, County, and St. Charles County have fallen off quite dramatically since a relative peak in 2004, dropping nearly 75.0 percent to a low in 2011. Since the bottom, permits have increased 112.0 percent. The driver remains multi-family development, growing at double the pace of single family home permits.
- While single family growth has slowed in the past two years, it could be a case of supply not keeping up with demand. A recent article in the St. Louis Business Journal cited people camping out at several new neighborhoods to secure a location. According to the article, the five largest homebuilders in the area saw a sales increase of 10.6 percent year-over-year.
Source: JLL Research, US Census, St. Louis Business Journal