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Houzz Stat: How long does building permit approval take?

BY Erin Carlyle, Houzz

Less than a month is common. The remainder of permits (76 percent) require multiple days for approval. Of those, most (83 percent for first-time applicants, 77 percent for experienced) take less than a month to obtain. Notably, a greater share of experienced applicants (10 percent) had building permit approval take four or more months, while only 3 percent of first-timers faced that timeline.

“Homeowners who have gone through a permit process once before may be more willing to embark on projects with greater structural or design complexities than first-time applicants,” says Nino Sitchinava, Houzz’s principal economist. “As a result of these complexities, the application review process may extend beyond typical ranges to include additional review cycles by planning, zoning, public works or other local commissions.”

See more survey results here.

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Housing starts slip in September

BY HBSDealer Staff

As extreme weather and hurricanes slowed construction in the South, housing starts slipped in September. Starts in September were at a seasonally adjusted annual rate of 1,127,000, down 4.7% from the previous month, according to data released Wednesday morning by the U.S. Census Bureau.

The single-family story was also heading in the wrong direction  – down 4.6% to a rate of 829,000. Building

The year-over-year story was positive – total housing starts increased 6.1% compared to September 2016, when the rate was 1,062,000.

Measures of building permits were more negative than positive. Total permits in September came in at a rate of 1,215,000, down 4.5% from August and down 4.3% from September 2016. Single-family authorizations were up 2.4% to a rate of 219,000.

On a regional basis, Census revealed the following data about September starts:

Going down:
• South: 1-unit down 15.3% compared to August 2017;
• Midwest: total starts down 20.2% compared to August 2017;

Going up:
• West: 1-unit up 26.1% compared to September 2016;
• Northeast: 1-unit up 17.7% compared to September 2016.

For the full Census report, click here.

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HBSDealer Stock Watch: Tepid Tuesday

BY HBSDealer Staff

While the Dow surpassed the 23,000 mark, the majority of industry stocks fell for the second day in a row, with BXC losing 9.81% to lead the pack. On a positive note, HBP gained 4.07%.

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