A good way to gauge activity in the residential construction market at the local level is to look at the number of single-family permits pulled per 1,000 residents. On a national basis, the 2017 ratio was 2.3 single-family permits per 1,000 residents. More than 30 Metropolitan Statistical Areas did twice that last year. Many of these metros are in vacation areas or popular retirement destinations, particularly along the coast or in the mountains.
Another Way to Look at Housing’s Hottest Markets in 2017
When measured by single-family permits per 1,000 housing starts, more than 30 local markets doubled the national rate.