FORT WAYNE AREA ECONOMIC DATA
CONSTRUCTION

Note: Each Fort Wayne area economic section has a graphic presentation and a definition or explanation of the data and its sources. In most cases, seasonal adjustments and indexing are done by CRI. Whenever possible, comparison charts for both the United States and Fort Wayne area are shown.

The Fort Wayne metropolitan statistical area (MSA) consists of six counties: Allen, Wells, and Whitley. Fort Wayne is located entirely in Allen County.
For more information on the counties or the MSA, see the FAQ or the Census sections.

	At the national level, The New Housing Permits data series is one of the 11 series comprising the Composite Index of Leading Economic Indicators. That is, changes in permits tend to signal similar changes in the overall performance of the national economy. The housing market is one of the first economic sectors to rise or fall when economic conditions improve or degrade, and housing permits and starts are the earliest indicators of activity in the housing market. New residential housing construction generally leads to other types of economic production. The new housing market is sensitive to interest rate changes; therefore, it is sensitive to changes in interest rates initiated by the Federal Reserve. Locally, the new-housing market is affected by those same interest rate policy change nationally, but it also may be influenced by strictly local factors. For example, local plant closings (and an associated drop in employment and income) may cause new-housing construction locally to decline.
Data seasonally adjusted by CRI. Data provided by Allen County Building Department.

	The Dollar Value of new single-family housing permits is comparable to the series above except here the dollar value of new permits is shown rather than the number of new permits. Differences between the two series will occur if the average value of individual houses being built changes. Also, to the extent that the value is measured in current dollars, inflation can cause the "value" series to rise faster than the "count" series. It should be noted that contractors estimate the dollar value of the houses they plan to build; therefore, there can be a difference between estimated and actual values of houses being built. Data shown here are the estimated values.
Data provided by Allen County Building Department.

	The dollar value of new apartment and condo permits is similar to the value of new single-family housing permits except it is a measure of another sector of the area housing market. The apartment/condo data are separated from the single-family data because apartment/condo permit requests are so volatile that they tend to mask any underlying trend in the single-family data. To help identify underlying trends in the apartment/condo data, the monthly data are "smoothed" by calculating a 12-month moving average. Value is measured in current dollars; therefore, inflation alone can cause the data series to increase. It should be noted that contractors estimate the dollar value of the apartments and condos they plan to build; therefore, there can be a difference between estimated and actual values of the apartments and condos being built. Data shown here are the estimated values.
Data provided by Allen County Building Department.

	The value of new commercial permits is a measure of commercial construction activity (new, additions, and repairs). Because the monthly data tend to be volatile, they are "smoothed" by calculating a 12-month moving average. This helps in the identification of underlying trends. Value is measured in current dollars; therefore, inflation alone can cause the data series to increase. It should be noted that contractors estimate the dollar value of commercial construction; therefore, there can be a difference between estimated and actual values of the commercial construction. Data shown here are the estimated values.
Data provided by Allen County Building Department and include new construction, additions, and repairs.

COMPARISON CHARTS

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