DBusiness Magazine
Rising Lumber Prices Slow New Home Construction in Metro Detroit and Nation
Residential single-family home permits in metro Detroit during April fell 28 percent to 371 filings as compared to March, when builders pulled 517 permits, according to a new report from the Home Builders Association of Southeastern Michigan in Bingham Farms.
Builders working on wooden house construction site. // Courtesy of iStock
Residential single-family home permits in metro Detroit during April fell 28 percent to 371 filings as compared to March, when builders pulled 517 permits, according to a new report from the Home Builders Association of Southeastern Michigan in Bingham Farms.
Looking back to April 2019 when COVID-19 wasn’t around, builders pulled 498 single-family permits, which was 26 percent higher as a seasonal comparison to April 2021. The Home Builders Association covers Oakland, Wayne, Macomb, and St. Clair counties.