When talking about economic performance, there are certain sectors that are fairly good indicators of what a country has to look forward to. The construction industry is one such example. For instance, when a country sees a boom in commercial construction, there is often a correlation in business growth, and with that, job opportunities. The same goes for a leap in warehouse building indicating that that industry has seen some growth. However, when we look to individuals, a focus on residential construction can show how members of the population are feeling about their country in terms of confidence, solvency, and desirability of geographic location.
Here, we take a look at the number of total building permits for new, privately-owned housing units by metropolitan area, to get a better idea of the state of residential construction, and the economy.