Housing Market Continues Positive Growth
Through the first 9 months of 2016, Alabama has seen 15.1% more housing permits issued compared to the first nine months of 2015. Total permits for 2016 are 7,613 versus 6,616 for the previous year. Helping lead the growth are Birmingham with a 30.9% increase, Muscle Shoals with a 29.1% increase, and Tuscaloosa with a 34.1% growth. Examining the top 24 home building markets, 15 markets have seen growth over 2015 totals and 9 markets are lagging behind the previous year.
August Cement Shipments Bounce Back from July Drop
Cement shipments to Alabama in August rose to 98,391 metric tons, a 9% increase over July’s 89,547 tons. July’s unanticipated drop, was the first monthly total for 2016 that did not exceed shipments for the same month in 2015. Comparing August 2016 to August 2015, cement shipments increased by 10.1%.
Ready Mix Production Stabilizes
Ready mix production in the state which closely mirrors cement shipments rose to 364,767 cubic yards for August 2016 compared to the estimated 327,929 cubic yards for 2015. As highlighted above, the drop was the first contraction when comparing the months of 2016 versus 2015.