Building permits are an important economic indicator, as they provide insight into future construction activity and the potential growth of the housing market. An increase in the number of permits issued usually suggests that developers are confident in the market and expect demand for new housing to rise. Conversely, a decrease in permits may indicate a slowing housing market or economic uncertainty.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD) are two reliable sources for this data. They regularly release monthly reports on new residential construction, which include statistics on building permits, housing starts, and housing completions.