The Berkeley-Charleston-Dorchester Council of Governments has released Construction Quarterly, its fourth-quarter analysis of construction trends in the region.
Insights in this edition include:
The number of building permits issued for all new construction in the region in the fourth quarter of 2017 decreased by 5% from the third quarter of last year.
- The construction value of permits increased by about 8%.
- An analysis of the commercial permits for the quarter revealed there were about $229 million for truly new commercial permit activity and about $159 million in upfits.
- The number of single-family residential permits increased approximately 6% from 1,022 in the third quarter of 2017 to 1,081 in the fourth quarter.
- The permit values also increased approximately 4% from about $313 million to $326 million in the same time frame.
Fourth quarter permits seemed to have rebounded from the year low third quarter, but have not reached the values we saw in the 1st and 2nd quarter of 2017 for total construction. New construction in 2017 has increased in residential permits why declining slightly in commercial construction permits.
For more information on the fourth quarter’s construction updates or to download the full issue, please visit bcdcog.com/ourevents/rfps/.