Houston permit values double since recession

HOUSTON – Building permit values have steadily inched higher every month since the recession with residential more than doubling its yearly permit value in the 12 months ending in September 2013.

Since the May 2011 trough for residential construction at $900 million, the 12-month permit total has gone up to $2.1 billion, or 135.7 percent, according to the Houston Department of Public Works and Engineering.

Home builders feed the demand for inventory with permits issued in the 12 months ending in September 2012 valued at more than $1.6 billion, a 32.3 percent increase.

Nonresidential building permits increased with a 17.9 percent jump in the 12 months ending in September 2013, hitting $3.5 billion. The figure for the same period in 2012 was $3 billion.

During the recession, the low point for total permits over a 12-month period was $3.1 billion, ending in September 2010. Since then, permits have increased nearly 80.9 percent to $5.7 billion in total value for the most recent 12-month period.