Single-Family Permits Holding Steady in April 2024  

2024-06-18T09:20:35-05:00

Over the first four months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 336,124. On a year-over-year (YoY) basis, this is an increase of 25.3% over the April 2023 level of 268,205. Year-to-date ending in April, single-family permits were up in all four regions. The range of permit increase spanned 36.4% in the West to 12.6% in the Northeast. The Midwest was up by 27.2% 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 51.2%, while the West posted a decline of 36.4%, the South declined by 27.9%, and the Midwest declined by 11.6%. Between April 2024 YTD and April 2023 YTD, 48 states and the District of Columbia posted an increase in single-family permits. Rhode Island (-7.7%) and Alaska (-17.3%) reported declines in single-family permits. The range of increases spanned 63.8% in Arizona to 3.2% in Hawaii. The ten states issuing the highest number of single-family permits combined accounted for 64.9% of the total single-family permits issued. Texas, the state with the highest number of single-family permits, issued 56,832 permits over the first four months of 2024, which is an increase of 29.4% compared to the same period last year. The succeeding highest state, Florida, was up by 17.1% while the next highest, North Carolina, posted an increase of 17.2%. Year-to-date ending in April, the total number of multifamily permits issued nationwide reached 157,076. This is 20.1% below the April 2023 level of 196,589. Between April 2024 YTD and April 2023 YTD, 15 states recorded growth in multifamily permits, while 35 states and the District of Columbia recorded a decline. Oklahoma (+247.5%) led the way with a sharp rise in multifamily permits from 335 to 1,164, while Oregon had the biggest decline of 75.4% from 3,394 to 834. The ten states issuing the highest number of multifamily permits combined accounted for 65.8% of the multifamily permits issued. Over the first four months of 2024, Texas, the state with the highest number of multifamily permits issued, experienced a decline of 27.9%. Following closely, the second-highest state in multifamily permits, Florida, saw a decline of 33.2%. New York, the third largest multifamily issuing state, increased by 130.4%. 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.

Single-Family Permits Holding Steady in April 2024  2024-06-18T09:20:35-05:00

Home Building Employment across States and Congressional Districts in 2022

2024-05-30T07:33:15-05:00

According to the latest 2022 ACS, 11.2 million people, including self-employed workers, worked in construction in 2022. NAHB estimates that out of this total, 4.7 million people worked in residential construction, accounting for 2.9% of the US employed civilian labor force. Home building in the Mountain Division, as well as in Florida, stand out as generating a significantly higher share of local jobs, with residential construction generating close to 6% of all jobs in Idaho. NAHB’s analysis also identifies congressional districts where home building accounts for particularly high employment levels and share of local jobs. Not surprisingly, the most populous state—California—also has the most residential construction workers. Over 650,000 California residents worked in home building in 2022, accounting for 3.4% of the state employed labor force. Fast-growing Florida comes in second with 466,000 residential construction workers. The state stands out for registering one of the fastest growing populations since the start of the pandemic, which undoubtedly boosted housing and construction workforce demand. Florida’s large stock of vacation and seasonal housing further boosts demand for residential construction workers. As a result, in Florida, residential construction workers account for a relatively high 4.4% of the employed labor. Even though this share is well above the national average (2.9%), it is significantly lower than in 2006, when Florida registered the highest share among all 50 states and the District of Columbia, at 6.5%. Similar to Florida, fast-growing states with a high prevalence of seasonal, vacation homes top the list of states with the highest share of residential construction workers in 2022. Three states in the Mountain Division – Idaho, Utah, and Montana – take the top spots on the list with 5.9%, 5.4% and 4.8% of the employed labor force working in home building. Florida is next on the list with a share of 4.4%. In addition, ten other states register shares of residential construction workers that approach 4%: Maine (3.9%), Wyoming (3.8%), Vermont (3.8%), Washington, Colorado, New Hampshire, Nevada with 3.7%, and Arizona, North Carolina, and Oregon with 3.5%. As of 2022, the average congressional district has about 10,800 residents working in residential construction, but that number is often significantly higher. In Idaho’s 1st Congressional District, over 29,000 residents are in home building and Idaho’s 2nd Congressional District has close to 25,000 residents working in home building. Eight other congressional districts have over 20,000 residents working in residential construction – Florida’s 26th (24,700), Utah’s 4th (24,500), Utah’s 2nd (24,300), Florida’s 17th (21,400), Utah’s 1st (20,600), Florida’s 7th (20,500), California’s 29th (20,400), and Colorado 8th (20,100). By design, Congressional districts are drawn to represent roughly the same number of people. So generally, large numbers of residential construction (RC) workers translate into high shares of RC workers in their district employed labor forces.  Idaho’s 1st registers the highest share of residential construction workers in the employed labor force, 6.4%. Two districts in Florida (Florida’s 17th and 26th) are next on the list with shares of 6.2%. Utah’s 2nd (5.7%) and California’s 29th (5.5%) also register shares far exceeding the national average of 2.9%.  At the other end of the spectrum there are several districts that contain parts of large urban areas: the District of Columbia, the 12th of New York, located in New York City, Pennsylvania’s 3rd that includes areas of the city of Philadelphia, Illinois’s 7th and 5th, Georgia’s 5th that includes most of Atlanta, and among others, Louisiana’s 2nd that contains New Orleans. Most residents in these urban districts tend to work in professional, scientific, and technical services. The District of Columbia stands out for having the lowest number of RC workers, with less than 1,000 residing in the district. At the same time, it has a disproportionally large share of public administration workers. The 12th District of New York and the 7th District of Illinois are home to a very large group of finance and insurance workers. Meanwhile, in Pennsylvania’s 2nd, more than a third of residents work in health care and educational services. The NAHB residential construction employment estimates include self-employed workers. Counting self-employed is particularly important in the home building industry since they traditionally make up a larger share of the labor force than in the US total workforce. The new NAHB home building employment estimates only include workers directly employed by the industry and do not count jobs created in related industries– such as design and architecture, furniture making, building materials, landscaping, etc.  As a result, the estimates underestimate the overall impact of home building on local employment. Discover more from Eye On Housing Subscribe to get the latest posts to your email.

Home Building Employment across States and Congressional Districts in 20222024-05-30T07:33:15-05:00

State Level Employment Situation: April 2024

2024-05-17T13:20:43-05:00

Nonfarm payroll employment increased in 38 states and the District of Columbia in April compared to the previous month, while 11 states saw a decrease. Alaska reported no change during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 175,000 in April, following a gain of 315,000 jobs in March. On a month-over-month basis, employment data was most favorable in Florida, which added 45,300 jobs, followed by Texas (+42,600), and then Missouri (+16,700). A total of 22,900 jobs were lost across the 11 states, with New Jersey reporting the steepest job losses at 10,900. In percentage terms, employment increased the highest in Missouri at 0.6%, while South Dakota saw the biggest decline at 0.6% between March and April. Year-over-year ending in April, 2.8 million jobs have been added to the labor market across all 50 states and the District of Columbia. The range of job gains spanned from 1,800 jobs in the District of Columbia to 306,000 jobs in Texas. In percentage terms, the range of job growth spanned 3.4% in Nevada and South Carolina to 0.2% in Maryland. Across the nation, construction sector jobs data1 —which includes both residential and non-residential construction—showed that 28 states reported an increase in April compared to March, while 19 states and the District of Columbia lost construction sector jobs. The three remaining states, Mississippi, Rhode Island, and South Carolina reported no change on a month-over-month basis. Michigan, with the highest increase, added 4,200 construction jobs, while Ohio, on the other end of the spectrum, lost 7,600 jobs. Overall, the construction industry added a net 9,000 jobs in April compared to the previous month. In percentage terms, Michigan reported the highest increase at 2.1% and Iowa reported the largest decline at 3.5%. Year-over-year, construction sector jobs in the U.S. increased by 258,000, which is a 3.2% increase compared to the April 2023 level. Texas added 30,500 jobs, which was the largest gain of any state, while New York lost 7,100 construction sector jobs. In percentage terms, Alaska had the highest annual growth rate in the construction sector at 18.0%. Over this period, Maryland reported the largest decline of 4.0%. For this analysis, BLS combined employment totals for mining, logging, and construction are treated as construction employment for the District of Columbia, Delaware, and Hawaii. ↩︎ Discover more from Eye On Housing Subscribe to get the latest posts to your email.

State Level Employment Situation: April 20242024-05-17T13:20:43-05:00

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.

Single-Family Permits Up in March 2024  2024-05-14T09:19:47-05:00

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