Economists follow building permits closely because they can be a barometer of economic activity with higher numbers signaling a surge in economic growth or lower numbers raising concerns of a coming downturn. Higher numbers can also indicate job expansion in the construction industry and more demand for related home products, such as appliances and furnishings.
Nationwide, 99,380 building permits for privately owned housing were issued in September.
Building permits issued in Arizona in September
| 1 Unit | 2 Units | 3 and 4 Units | 5 Units or More | Total |
|---|---|---|---|---|
| 2,119 | 34 | 36 | 1,041 | 3,230 |
Source: US Census Bureau