The Census Bureau released building permit data for Jefferson county and Shelby county and as might be expected there just is not a whole lot going on. Updated Charts are here.
Jefferson showed 38 permits as compared to 36 last month as compared with 85 last year and 204 in 2007. Shelby showed only 9 permits as compared to 16 in December. This compares with 28 last year and 100 in January 2007.
One major developer in the Birmingham I spoke with last week expressed a concern that he was running out of appropriate levels of inventory in the lower price ranges. These low levels of permits would tend to bear that out. However there is still plenty of resale inventory. To some degree the concern may have been “company specific”.
Huntsville data is not yet available.