Residential Construction DeclinesFri, 24 Jul 2020 16:25:55 EDT
A new report finds Michigan has the 2nd sharpest decline in residential construction since the pandemic hit.
The report by Construction Coverage shows Michigan authorized 727 building permits for new residential units in April of 2020, representing a 64.3% decline compared to last year.
COVID-19 negatively affected all stages of housing construction, but new building permit authorizations and housing starts fell further than completions of existing projects.
At the national level, both new building permits and housing starts decreased to their lowest levels in half a decade.
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