|4-YEAR HOUSING PERMIT COMPARISON
|JANUARY – FEBRUARY|
FEBRUARY BUILDER INDEX HITS RECORD HIGH; REMODELER INDEX RETURNS TO “CAUTIOUSLY OPTIMISTIC” RANGE
On March 6th, HBA released its February 2013 Builder Activity Index and Remodeler Activity Index for Macomb, Oakland, St. Clair and Wayne counties.
HBA’s BUILDER ACTIVITY INDEX rose to a record high of 84, up by five basis points from January and a full 29 basis points higher than February 2012 (55).The previous record high was 79 points, achieved twice (Jan 2013 and Oct 2011) since the index was established in October 2009. The uptick reflects very optimistic builder sentiment following the best January permit numbers since 2007.
HBA’s REMODELER ACTIVITY INDEX for February returned to the “Cautiously Optimistic” range for the first time in six months, finishing at 51. The index improved by 7 basis points from the preceding month (44) and was 5 basis points higher than February 2012 (46). The increase was driven by optimism based on bidding activity underway for future remodeling jobs.