The total marked a billion-dollar increase over the value of building permits issued in the twelve months ending in July 2011, a rise of just over 30%. Patrick Jankowski is vice president of research for the Greater Houston Partnership.
“The last industry to recover after a recession is construction, and it’s the last stage that you need to get to to have a full recovery. And it looks like we’re just about there, especially in the residential construction area. I’d like to see a little bit of a pickup in non-residential, but as an economist, I’m happy with where we are right now.”
New nonresidential permits totaled $2.8 billion, up just over 20% year-over-year. Residential permits rose by more than 50% to $1.5 billion.
Prepared by Greater Houston Partnership Research Department