Single-Family Permits Up in March 2024  

2024-05-14T09:19:47-05:00

Over the first three months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 241,311. On a year-over-year (YoY) basis, this is an increase of 25.9% over the March 2023 level of 191,695. Year-to-date ending in March, single-family permits were up in all four regions. The range of permit increase spanned 38.0% in the West to 12.5% in the Northeast. The Midwest was up by 29.3% and the South was up by 22.7% in single-family permits during this time. For multifamily permits, three out of the four regions posted declines. The Northeast, the only region to post an increase, was up by 49.0%, while the South posted a decline of 35.9%, the West declined by 32.6%, and the Midwest declined by 8.6%. Between March 2024 YTD and March 2023 YTD, 47 states posted an increase in single-family permits. Massachusetts, Rhode Island, Alaska, and the District of Columbia reported declines in single-family permits. The range of increases spanned 90.5% in Montana to 0.8% in New Jersey. The ten states issuing the highest number of single-family permits combined accounted for 65.5% of the total single-family permits issued. Texas, the state with the highest number of single-family permits, issued 40,651 permits over the first three months of 2024, which is an increase of 34.7% compared to the same period last year. The succeeding highest state, Florida, was up by 15.1% while the next highest, North Carolina, posted an increase of 15.5%. Year-to-date ending in March, the total number of multifamily permits issued nationwide reached 117,695. This is 22.8% below the March 2023 level of 152,417. Between March 2024 YTD and March 2023 YTD, 15 states recorded growth in multifamily permits, while 35 states and the District of Columbia recorded a decline. Kansas (+282.7%) led the way with a sharp rise in multifamily permits from 336 to 1,286, while North Dakota had the greatest decline of 92.8% from 429 to 31. The ten states issuing the highest number of multifamily permits combined accounted for 64.9% of the multifamily permits issued. Over the first three months of 2024, Texas, the state with the highest number of multifamily permits issued, experienced a decline of 36.7%. Following closely, the second-highest state in multifamily permits, Florida, saw a decline of 44.7%. New York, the third largest multifamily issuing state, increased by 120.9%. At the local level, below are the top ten metro areas that issued the highest number of single-family permits. For multifamily permits, below are the top ten local areas that issued the highest number of permits. Discover more from Eye On Housing Subscribe to get the latest posts to your email.