Real Estate » Election Year Jitters? B Hot (Small) New Trend ased on residential permit data compiled by the Home Builders Association of Southeastern Michigan (HBA), a total of 320 single- family permits were issued in Macomb, Oakland, St. Clair and Wayne counties in September 2016. A healthy 86 multi- family permits were issued during the month, marking a modest uptick. The single-family permit total was 35 percent lower than August 2016’s upward revised total of 492 and was 20 percent lower than September 2015 (398). Finally, September’s performance was well below what the HBA’s econo- metric forecast model expected (633). Multi-family’s uptick in activity brings the year-to-date total of permits to 996, slightly higher than the 2015 total through September (990). This marks the best nine-month period to start a year for multi-family permits since 2003 (1,509). From an economic perspective, all indicators also remain relatively posi- tive as the number of people employed and the number of vehicles produced in North America continue to increase year-over-year, while energy prices con- tinue to remain low compared to recent previous years. So, with everything seemingly so positive for the southeastern Michigan market, why is new, single-family per- mit activity seeing such an abrupt slow- down so early in the fall? The convenient — yet perhaps logi- cal — conclusion is the uncertainty, real or perceived, by potential new home buyers based on the candidate they believe will win the presidential election in November. Unfortunately, HBA’s econometric- based model doesn’t have a method — at least not at present — to factor the “emotional quotient” as it relates to new, single-family home permit activ- ity. * S mall homes are the hottest new trend in the real estate market, local real estate agent Jeff Glover told WDIV-TV. 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