Attom Data Solutions announced on Monday the launch of its building permit database, which includes up-to-date information for more than 200 million residential and commercial properties across the United States.
“Building permit data is an essential component that gives valuable details about a property, and we’re pleased to add another data element to our ATTOM Data Warehouse,” Attom CEO Rob Barber said in a press release. “ATTOM’s mission is to power innovation with premium property data and analytics, and in order to do so we must continue to increase real estate transparency with comprehensive data that offers critical insight into the evolving marketplace.”
Sourced from 2,000 building permit departments in 94 of the nation’s largest cities, Attom’s database allows agents and housing industry professionals to research a property’s entire history, including permit types (e.g. solar installation, foundations, and roofing), permit status, job costs and descriptions, and contractor information.
In an emailed statement to Inman, CEO Rob Barber said the database will be useful to insurance assessors, appraisers, contractors, hedge fund managers, real estate investors, and real estate agents looking to find potential clients and assess potential purchases.
For agents, Barber said the database will help them understand a commercial or residential property’s renovation history, which is helpful in identifying what improvements may need to be done by the seller or buyer. He also noted building permit data is crucial to calculating accurate property valuations and determining if a property is up to code before placing it on the market.
“Lastly, the database identifies potential new sellers, as an increase in building permit activity on a property is closely associated with a near-term sale of that property; [as] owners typically make improvements to prepare for a sale,” he added.
As with other Attom data products, the cost of accessing the building permit database depends on whether agents are looking to access national, state or county-level data, Barber explained.
“Building permits identify key events in a property’s history,” Attom Vice President of Product Management Sean Mooney concluded in a prepared statement. “Knowing the types of construction or remodeling projects that have occurred on a property – as well as the cost and completion dates of that work – really empowers anyone who is assessing risk or providing valuation services to make more informed decisions.”