ATTOM’s Building Permit Data for Los Angeles, California
Supply Chain Woes in Los Angeles, California
The whole country is experiencing similar problems. Construction delays are common, and many builders are holding back on the number of new homes they put up for sale. The high cost of building a new home is yet another factor pushing up prices for buyers and investors.
According to property data, home improvements and construction projects are stalling due to delays in everything – from appliances to windows to bathtubs. Deliveries that used to take two weeks can now take months. According to Labor Department data and the National Association of Home Builders, wholesale prices for items like windows, roofing tiles, doors, and steel increased 22 percent over the past 12 months.
These conditions are not likely to end soon, and applications for building permits are likely to slow in the face of rising costs and uncertain completion dates. While the Federal Reserve expects the surge in inflation to be temporary, homes, apartments, and commercial buildings will be more expensive. Many builders are slowing down the pace of new homes entering the market so that they can be sure to meet project completion dates.
Construction and renovation projects have a direct effect on house prices. ATTOM’s building permit data shows the true value of a property that has been updated versus one that has languished in a market facing supply issues and inflation.
Let ATTOM’s Building Permit Data Tell the Whole Story
ATTOM’s building permit data tells the life story of a residential or commercial property. Find out what work has been done and what needs to be done to a property based on historical and active permits.
Insurance companies, real estate professionals, marketers, and investors get the deeper story for better valuations, risk assessments, and business decisions.
Be better informed with ATTOM’s building permit data.