Value of Building Permits Issued
We track building permits as an indicator of economic activity and specifically, we are tracking those permits with a subtype of new construction ("new"), alteration ("alt"), or addition ("add") as a proxy for new development in Memphis. In March 2019, the largest valued permit on in Memphis history was issued, with a valuation of over $300M!
The chart below shows the total valuation of these permits by month along with the moving 3 year average of permit valuation. Due to the cyclical nature of building permits, we show the moving 3 year average to smooth the trend line.
The table below shows all number of residential and commercial building permits issued in the City of Memphis each month, regardless of their construction type. Building permits are pulled for a range of activities including new construction, additions, demolitions, and repairs. Residential building permits are any permits related to one and two family houses including new construction and additions. Commercial permits include all other types of buildings, including businesses and multi-family units. You can learn more about applying for building permits here.