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December 2, 2013

Development Is Back!

By Partner ESI

LATEST HOUSING STATISTICS SIGNAL A PROMISING TREND…

…the development and construction industries are truly on the up. Recently released housing market figures all signal a promising trend: the development and construction industries are truly on the up. The latest US Census Bureau/Department of Housing and Urban Development report for New Residential Construction showed that building permits have surged for both single family and multifamily units in the last few months. Home building permits reached the highest level in more than 5 years in October (to an annual rate of 1.03 million), while applications for multifamily permits rose by more than 15 in the same month and by no less than 20.1% in September. Figures for housing starts and completions were postponed until December 18 as a result of the government shutdown, but I expect these to show a similar upward trend.

Continue reading the GlobeSt blog here.

About the Authors

Partner ESI

Partner ESI

Founded in 2007, Partner Engineering and Science Inc., is the leading provider of engineering, environmental, energy, and construction consulting for the commercial real estate (CRE) industry. Touching 1 in 5 CRE transactions in the U.S., Partner is widely recognized as the largest and best provider of third-party physical due diligence reports, including Phase I Environmental Site Assessments, Property Condition Assessments, Seismic Risk Assessments, Zoning Reports, ALTA Land Title Surveys, and Construction Risk Management. Partner’s connectedness to the CRE market gives it an unparalleled view into CRE trends and risk management insights. Partner also provides a full suite of consulting services to support the entire real estate lifecycle, including: Geotechnical Consulting; Building Systems Consulting; Capital Management and Project Implementation Support; Environmental Health & Safety Consulting; Energy, Sustainability & Resilience Consulting; and Site Civil Engineering. With a responsive approach scaled for speed and agility, Partner helps clients manage risk, make smart investments, optimize asset performance, and win at their real estate investment strategies. Based in Torrance, Calif., Partner has over 1,400 employees in 40 offices around the globe.

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