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  • Economic Calendar Terms

    Build permits R change

    US Department of Commerce
    1401 Constitution Avenue
    NW, Washington, DC 20230
    202–482-2000

    Building permits-quantity of formal approvals of building plans by the designated government agency as meeting the requirements of prescribed codes.It is an authorization to proceed with the construction or reconfiguration of a specific structure at a particular site, in accordance with the approved drawings & specifications.Quantity of received Building Permits is used as the earliest indicator for developments in the housing market.Additionally,because of the high outlays needed to begin construction projects;an increase in Building Permits implies an increase in investment & corporate optimism. Finally,the figure gives insight into consumer activity, since new home purchases are associated with an increase in sales of durable goods.These series provide building permit statistics on new privately-owned residential construction. The statistics are based upon reports submitted by local building permit officials in response to a mail survey.There is a sample of 8,500 permit- issuing places, selected from a universe of approximately 19,000 places.The types of structures reported within Residential Housekeeping Buildings are defined below: A)Single Family Houses - Excludes mobile homes,(B)Two-Family Buildings,(C)Three- and Four-Family Buildings & (D)Five-or-More Family Buildings