Housing Permits Grew at Fastest Rate Since November 2015

Housing permits reached their second highest level since June 2015.

(Positive) There were 118,600 housing permits filed in April 2018. This was the highest number of permits since June 2017 and the second highest since June 2015. Compared with one year ago, housing permits increased 15.6 percent, which was the the fastest rate of growth since June 2015. The annual rate of growth accelerated 7.3 percent, which was the fastest rate of growth since May 2016. There may be slightly faster growth ahead for a couple more months.

The 10-year Treasury rate is an excellent leading indicator for housing permits. The year-over-year change in the real rate, 21 basis points, increased for the first time since April 2016. An increasing year-over-year change in the real 10-year Treasury rate is negative for housing permits as homes become relatively more expensive.


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