Issue Brief: Building Permit Methodology
Building permits are important leading economic indicators to track within a regional economy. They represent the initial stages of what will eventually become a new structure in the area. They help paint a picture of the real estate market while also measuring future demand for the construction industry.
In this issue brief, we introduce a new methodology for the dissemination of regional building permits. The new methodology includes the use of the Building Permit Survey (BPS), a national survey conducted by the US Census Bureau to provide national, state, and local information on residential construction.
We first introduce the BPS to the reader, discussing how the BPS goes about collecting information. We next provide analysis comparing BPS data to RERI data to learn more about differences and potential shortcomings of the BPS. Finally, we introduced a new methodology the RERI will implement for collecting and disseminating building permit information moving forward.