Markets & EconomyRentals

Residential building permits up 30 percent in June

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. Roughly 310,000 more residential building permits were pulled in June 2015 than in the same month last year, a 30 percent increase in activity. Data from the U.S. Census Bureau show that privately owned housing units authorized by building permits totaled more than 1.34 million in June, aided by a 79 percent year-over-year rise in the number of permits pulled for projects featuring more than five units. Authorizations for these apartment units totaled 621,000. In the Northeast alone, permits were pulled for 245,000 units. The South -- which includes Texas -- was the region that saw the most single-family activity, with 368,000 permits pulled in June. The South also accounted for 583,000 (43.4 percen...