3,511 SINGLE-FAMILY PERMITS ISSUED IN 2022; PULTE, LOMBARDO HOMES AND M/I HOMES ARE TOP THREE BUILDERS

Based on residential permit data compiled by HBA and reported in the HBA/Carter Lumber Southeastern Michigan Residential Building Activity Report™ a total of 105 single-family home (SFH) permits were issued in Macomb, Oakland, St. Clair and Wayne counties in December 2022. Absent the pandemic shutdown, this is the lowest monthly total since February 2010 (104).

For the year, 3,511 SFH permits were issued, marking the lowest annual total since 2011 (2,540). For the second consecutive year, the Top 3 builders in the 4-county area were: Pulte Homes (452), Lombardo Homes (355) and M/I Homes of Michigan (230).

From a county perspective, Oakland finished with 1,609 permits, followed by Macomb (1,101), Wayne (652) and St. Clair (149). Finally, the Top 5 Municipalities were: Macomb Twp. (275), Shelby Twp. (250), Lyon Twp. (227), Canton Twp. (173) and Independence Twp. (170).

In 2022, multi-family (for rent) construction permits totaled 2,217, falling just short of 2019 (2,234). The Top 3 multi-family builders were: Giffels Webster (500), Hunter Pasteur (193) and MJC Companies (184).

For the second consecutive year, all 4 counties saw multi-family permits issued with Wayne leading the way with 1,202,  followed by Oakland (642), Macomb (341) and St. Clair (32). The Top 5 Municipalities were: Detroit (878), Sterling Heights (271), Canton Twp. (240), Rochester Hills (165) and Farmington Hills (152).

Looking ahead, mortgage rates likely will be the biggest factor contributing to SFH permit performance. While the 30-year fixed rate, plus points, again retreated in December to 7.32 percent, it remains up by 3.62 basis points compared to December 2021 (3.70%). While expected to slow, the Federal Reserve is likely to implement additional rate increases.

Beyond that, continued inflation and broader recessionary concerns could also have an adverse impact to new housing in 2023.

NOTE: The graphs presented above - along with additional data and charts - can be found each month, in larger format, by going to www.builders.org; Log in using your Member ID#, Mouse Over the menu item "Building News & Metrics" Selecting "Industry Related Metrics" from the fly-out menu.

RESERVE YOUR SPOT TODAY!
ANNUAL ECONOMIC FORECAST BREAKFAST AT THE GREAT LAKES DESIGN & CONSTRUCTION EXPO
FEBRUARY 15 AT 7:30 A.M.
SUBURBAN COLLECTION SHOWPLACE

This year's Economic Forecast Breakfast Keynote Speaker is Dr. Daniil Manaenkov, US Forecasting Specialist, Research Seminar in Quantitative Economics (RSQE) at the University of Michigan.

He is an economic forecaster whose main areas of expertise are macroeconomics, monetary economics, and applied econometrics. For our group, he will address national, regional and local issues aimed at helping you to make decisions for your business in 2023 and beyond.

Registration for the Economic Forecast Breakfast is $60 per person and includesbreakfast, the presentation, and post-meeting presenter meet-and-greet on the EXPO show floor. Registration also includes FREE admission to the GLDC Expo exhibit floor and all educational opportunities.

If you wish to reserve EXHIBIT SPACE at the EXPO, please contact Brian  Starrs.brians@builders.org 248-202-7300

REMODELERS COUNCIL - This Wednesday!
ROUNDTABLE IDEA EXCHANGE AND LUNCH

Meet new Council Chair Ron Jedwab. Give us your ideas for 2023 programming.

Come bounce your biggest business challenges off other builders, remodelers and trades. Free peer-to-peer problem solving for all who attend!

TIME: Noon - 1:30 p.m.
PLACE: Association Offices
SUITE 202
NORTH ENTRANCE
COST: $10 per person, Including Lunch

PLEASE REGISTER ONLINE
or call Riva Gulli at: 248-862-1002.

IN PERSON “AFTER HOURS” MIXER
THURSDAY, FEBRUARY 9 FROM 6 - 8 P.M.

WITBECK - BIG GEORGE’S HOME APPLIANCE MART
6551 Orchard Lake Rd., West Bloomfield, MI 48322
There is no charge and ADVANCE REGISTRATION IS REQUIRED.

WELCOME NEW MEMBERS

BUILDER MEMBER
PATRICK COUGHLIN, SEANAKEY
SPONSOR: CINDY MAXWELL PHILIPS, LIGHTING RESOURCES OF MICHIGAN

BUILDER- REMODELER MEMBER
CHRIS JONES, MAMMOTH DOOR & CONSTRUCTION
SPONSOR: BOB TEDESCO, SILVERADO CUSTOM HOMES INC

ASSOCIATE MEMBER
BILL RUFF, MARVIN DESIGN GALLERY
SPONSOR: FRED I. CAPALDI, CAPALDI BUILDING CO.

SUBCONTRACTOR MEMBER
BRYAN MONDAY, CARRIER GREAT LAKES CORP
SPONSOR: SPENCER ROED, MULTI DRYWALL & PARTITION, LLC.

AFFILIATE MEMBERS
HAROLD HAFTKA, ANTCLIFF WINDOWS & DOORS INC
APRIL JONES, MAMMOTH DOOR & CONSTRUCTION
SEAN COUGHLIN, SEANAKEY

THANK YOU RENEWING MEMBERS

APARTMENT ASSOCIATION OF MICHIGAN MEMBERS
JOHANNE ETKIN, ETKIN & CO.
MICHAEL FERLITO, THE FERLITO GROUP

BUILDER MEMBERS
RAY LEDUC, R.L. CORPORATION
SVEN GUSTAFSON, STONEWOOD LLC
TOM SRBINOVSKI, THE NEW AMERICAN HOMESTEAD

BUILDER-REMODELER MEMBERS
TED DRESCOSKY, FIRM BUILT CONSTRUCTION
STUART MICHAELSON, WINDMILL KRE 1 LLC

ASSOCIATE MEMBERS
JOHN ZIZKA, ANTCLIFF WINDOWS & DOORS INC
RICK DITZEK, CARTER LUMBER CO.

AFFILIATE MEMBERS
STEVEN BELL, CARTER LUMBER CO.
SHANE DRESCOSKY, FIRM BUILT CONSTRUCTION
ANITA SRBINOVSKI, THE NEW AMERICAN HOMESTEAD
MICHAEL STEPHANOFF, US BANK
GEORGE J. MAGER, JR., WINDMILL KRE 1 LLC