Permits for new construction in Michigan continued to improve in 2016. However, there were fewer new construction permits issued per capita in Michigan than in all “Top Ten” states save for Pennsylvania. The state lagged behind all peer states except for Illinois and Ohio.
What It Is: The number of new, privately owned, housing units authorized for construction per 1,000 residents.
Why It Matters: This measure indicates how quickly new housing stock is being created in the state—a proxy for growing population and household formation, and a source of economic growth.