By KERRY SMITH, EDITOR, ST. LOUIS CONSTRUCTION NEWS AND REVIEW MAGAZINE
Data from the Home Builders Association of St. Louis and Eastern Missouri reveal a slow start to single-family and multifamily permit applications compared to a year ago.
2023 President Jeremy Roth says permits are off to a sluggish start in early 2023 with single-family permits down 52 percent and multifamily permits down 61 percent in January compared with the same period in 2022.
“Construction costs and higher mortgage rates continue to challenge the industry,” said Roth, “but builder confidence is climbing as the number of units under construction is high … and we expect permit numbers to strengthen in the spring months.”
January permit data was unavailable for St. Louis City, Festus and Pacific.
The percentages cited above are based upon the following detailed permit numbers from the HBA of St. Louis and Eastern Missouri:
