Housing Permits in Michigan Increase 3.8% in the
First Half of 2018
(Lansing, MI) – Housing permits for single family home construction increased 3.8 percent in Michigan during the first six months of 2018. According to the U.S. Census Bureau, there were 8,568 permits issued in the first half of 2018, compared to 8,256 for the same period a year ago. The rate of increase is considerably slower than 2017 when the number of housing permits outpaced year earlier levels by 10.2 percent.
“While any increase year-to-year is definitely a good thing, Michigan homebuilders continue to experience constrained growth which hinders not only growth in housing but also the entire Michigan economy,” said HBAM CEO Bob Filka. “The number of new homes continues to run well below historical averages of the past 20 years, and much lower than what economists say Michigan needs to support long term housing demand.”
HBAM warned of a looming housing shortage in Michigan last summer when it issued a proposed 13-point action plan to aggressively attack challenges faced by the industry. Copies of the HBAM report, “Housing Challenges Threaten Our Economic Growth—Where Will Ten Million Michiganders Live?” can be downloaded at HBAofMichigan.com.
At its height, Michigan’s residential building industry annually contributed more than $3.3 billion in local and state taxes, generated nearly $10 billion in income and helped generate and sustain more than 153,000 jobs. Today the industry is less than half this size even though demand for housing and renovation services continues to grow.
The Home Builders Association of Michigan is a professional trade association comprised of 24 local homebuilder associations around the state and their builder, subcontractor and supplier members. HBA of Michigan works to positively promote the building industry and impact legislative, regulatory and legal issues affecting housing affordability.