Single-Family Permits Decline in July 2023

2023-09-15T09:16:54-05:00

Over the first seven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 527,158. On a year-over-year (YoY) basis, this is 18.4% below the July 2022 level of 645,877. Year-to-date ending in July, single-family permits declined in all four regions. The Northeast posted the lowest decline of 12.1%, while the West region reported the steepest decline of 25.1%. The South declined by 16.5% and the Midwest declined by 18.0% in single-family permits during this time. For multifamily permits, the South region posted a modest decline of 7.5% while the West declined by 14.1%, the Midwest declined by 20.8%, and the Northeast declined by 31.2%. Between July 2022 YTD and July 2023 YTD, except for Hawaii (+16.1%), all the other states and the District of Columbia reported declines in single-family permits. The range of declines spanned 1.5% in Maryland to 49.3% in Alaska. The ten states issuing the highest number of single-family permits combined accounted for 63.9% of the total single-family permits issued. Texas, the state with the highest number of single-family permits issued, declined 20.3% in the past 12 months while the next two highest states, Florida and North Carolina declined by 18.8% and 10.3% respectively. Year-to-date, ending in July, the total number of multifamily permits issued nationwide reached 337,730. This is 14.3% below the July 2022 level of 394,215. Between July 2022 YTD and July 2023 YTD, 16 states recorded growth, while 34 states and the District of Columbia recorded a decline in multifamily permits. Rhode Island (+150.0%) led the way with a sharp rise in multifamily permits from 126 to 315 while Wyoming had the largest decline of 63.6% from 302 to 110. The ten states issuing the highest number of multifamily permits combined accounted for 64.8% of the multifamily permits issued. Texas, the state with the highest number of multifamily permits issued, declined 19.3% in the past 12 months while the next two highest states, Florida declined by 2.9% and California increased by 4.5%. At the local level, below are the top ten metro areas that issued the highest number of single-family permits. Top 10 Largest SF Markets July-23 (# of units YTD, NSA) YTD % Change(compared to July-22) Houston-The Woodlands-Sugar Land, TX                                         29,687 -8% Dallas-Fort Worth-Arlington, TX                                         24,088 -19% Atlanta-Sandy Springs-Roswell, GA                                         14,417 -14% Phoenix-Mesa-Scottsdale, AZ                                         13,302 -33% Charlotte-Concord-Gastonia, NC-SC                                         11,174 -13% Orlando-Kissimmee-Sanford, FL                                         10,020 -9% Austin-Round Rock, TX                                           9,202 -39% Nashville-Davidson–Murfreesboro–Franklin, TN                                           8,669 -17% Tampa-St. Petersburg-Clearwater, FL                                           8,050 -22% Raleigh, NC                                           7,639 -10% For multifamily permits, below are the top ten local areas that issued the highest number of permits.  Top 10 Largest MF Markets July-23 (# of units YTD, NSA) YTD % Change(compared to July-22) New York-Newark-Jersey City, NY-NJ-PA                                         17,802 -43% Dallas-Fort Worth-Arlington, TX                                         15,567 -23% Houston-The Woodlands-Sugar Land, TX                                         11,897 -22% Phoenix-Mesa-Scottsdale, AZ                                         11,608 7% Los Angeles-Long Beach-Anaheim, CA                                         10,925 -5% Austin-Round Rock, TX                                         10,895 -32% Miami-Fort Lauderdale-West Palm Beach, FL                                         10,266 25% Atlanta-Sandy Springs-Roswell, GA                                         10,000 0% Washington-Arlington-Alexandria, DC-VA-MD-WV                                           7,347 -27% Denver-Aurora-Lakewood, CO                                           7,148 -16% Related ‹ Building Materials Prices Remain Stable but Diesel Skyrockets 40% in AugustTags: home building, multifamily, single-family, state and local markets, state permits

Single-Family Permits Decline in July 20232023-09-15T09:16:54-05:00

Single-Family Permits Decrease in June 2023

2023-08-14T09:20:40-05:00

Over the first six months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 449,226. On a year-over-year (YoY) basis, this is 20.9% below the June 2022 level of 567,798. Year-to-date ending in June, single-family permits declined in all four regions. The Northeast posted the lowest decline of 11.0%, while the West region reported the steepest decline of 28.1%. The South declined by 19.1% and the Midwest declined by 20.5% in single-family permits during this time. For multifamily permits, the South region posted a modest decline of 2.7% while the West declined by 13.7%, the Midwest declined by 18.9%, and the Northeast declined by 29.0%. Between June 2022 YTD and June 2023 YTD, except for Hawaii (+21.4%) and New Jersey (+0.3%), all the other states and the District of Columbia reported declines in single-family permits. The range of declines spanned 5.5% in Maine to 60.0% in Alaska. The ten states issuing the highest number of single-family permits combined accounted for 64.2% of the total single-family permits issued. Texas, the state with the highest number of single-family permits issued, declined 23.9% in the past 12 months while the next two highest states, Florida and North Carolina declined by 20.3% and 12.0% respectively. Year-to-date, ending in June, the total number of multifamily permits issued nationwide reached 293,301. This is 11.6% below the June 2022 level of 331,934. Between June 2022 YTD and June 2023 YTD, 19 states recorded growth, while 31 states and the District of Columbia recorded a decline in multifamily permits. Rhode Island (+181.1%) led the way with a sharp rise in multifamily permits from 106 to 298 while Maine had the largest decline of 55.3% from 1,518 to 679. The ten states issuing the highest number of multifamily permits combined accounted for 64.9% of the multifamily permits issued. Texas, the state with the highest number of multifamily permits issued, declined 14.1% in the past 12 months while the next two highest states, Florida and California increased by 2.7% and 0.7% respectively. At the local level, below are the top ten metro areas that issued the highest number of single-family permits. Top 10 Largest SF Markets June-23 (# of units YTD, NSA) YTD % Change (compared to June-22) Houston-The Woodlands-Sugar Land, TX                                           25,155 -13% Dallas-Fort Worth-Arlington, TX                                           20,623 -22% Atlanta-Sandy Springs-Roswell, GA                                           12,104 -19% Phoenix-Mesa-Scottsdale, AZ                                           11,046 -38% Charlotte-Concord-Gastonia, NC-SC                                             9,515 -17% Orlando-Kissimmee-Sanford, FL                                             8,601 -12% Austin-Round Rock, TX                                             7,696 -41% Nashville-Davidson–Murfreesboro–Franklin, TN                                             7,378 -21% Tampa-St. Petersburg-Clearwater, FL                                             6,946 -15% Riverside-San Bernardino-Ontario, CA                                             6,828 -10% For multifamily permits, below are the top ten local areas that issued the highest number of permits.  Top 10 Largest MF Markets June-23 (# of units YTD, NSA) YTD % Change (compared to June-22) New York-Newark-Jersey City, NY-NJ-PA                                           15,663 -42% Dallas-Fort Worth-Arlington, TX                                           13,145 -17% Houston-The Woodlands-Sugar Land, TX                                           10,663 -11% Los Angeles-Long Beach-Anaheim, CA                                             9,151 -10% Miami-Fort Lauderdale-West Palm Beach, FL                                             9,126 26% Phoenix-Mesa-Scottsdale, AZ                                             9,031 9% Atlanta-Sandy Springs-Roswell, GA                                             8,925 19% Austin-Round Rock, TX                                             8,640 -37% Denver-Aurora-Lakewood, CO                                             6,526 -9% Charlotte-Concord-Gastonia, NC-SC                                             6,214 25% Related ‹ Price Growth of Key Building Materials Moderates FurtherTags: home building, multifamily, single-family, state and local markets, state permits

Single-Family Permits Decrease in June 20232023-08-14T09:20:40-05:00

Single-Family Permits Decline in May 2023

2023-07-17T09:18:00-05:00

Over the first five months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 357,143. On a year-over-year (YoY) basis, this is 24.7% below the May 2022 level of 473,997. Year-to-date ending in May, single-family permits declined in all four regions. The Northeast posted the lowest decline of 14.7%, while the West region reported the steepest decline of 33.5%. The Midwest declined by 23.9% and the South declined by 22.3% in single-family permits during this time. For multifamily permits, the South is the only region to post a modest increase of 3.2% while the other three regions posted declines. Multifamily permits in the West were down 7.8%, down in the Northeast by 21.7%, and down in Midwest by 23.3%. Between May 2022 YTD and May 2023 YTD, except for Hawaii, all the other states and the District of Columbia reported declines in single-family permits. Hawaii posted a 25.3% increase while the other states posted declines ranging from 0.5% in New Jersey to 64.6% in Alaska. The ten states issuing the highest number of single-family permits combined accounted for 64.4% of the total single-family permits issued. Texas, the state with the highest number of single-family permits issued, declined 27.6% in the past 12 months while the next two highest states, Florida and North Carolina declined by 23.8% and 14.8% respectively. Year-to-date, ending in May, the total number of multifamily permits issued nationwide reached 247,005. This is 7.1% below the May 2022 level of 265,751. Between May 2022 YTD and May 2023 YTD, 19 states recorded growth, while 31 states and the District of Columbia recorded a decline in multifamily permits. North Dakota led the way with a sharp rise in multifamily permits from 105 to 668 while Hawaii had the largest decline of 62.0% from 737 to 280. The ten states issuing the highest number of multifamily permits combined accounted for 65.1% of the multifamily permits issued. Texas, the state with the highest number of multifamily permits issued, declined 5.8% in the past 12 months while the next two highest states, Florida and California increased by 7.8% and 2.2% respectively. At the local level, below are the top ten metro areas that issued the highest number of single-family permits. Top 10 Largest SF Markets May-23 (# of units YTD, NSA) YTD % Change(compared to May-22) Houston-The Woodlands-Sugar Land, TX                                         20,366 -17% Dallas-Fort Worth-Arlington, TX                                         16,187 -27% Atlanta-Sandy Springs-Roswell, GA                                           9,766 -22% Phoenix-Mesa-Scottsdale, AZ                                           8,878 -43% Charlotte-Concord-Gastonia, NC-SC                                           7,905 -19% Orlando-Kissimmee-Sanford, FL                                           6,933 -16% Austin-Round Rock, TX                                           6,256 -41% Nashville-Davidson–Murfreesboro–Franklin, TN                                           5,929 -25% Tampa-St. Petersburg-Clearwater, FL                                           5,634 -19% Raleigh, NC                                           5,425 -16% For multifamily permits, below are the top ten local areas that issued the highest number of permits. Top 10 Largest MF Markets May-23 (# of units YTD, NSA) YTD % Change(compared to May-22) New York-Newark-Jersey City, NY-NJ-PA                                         13,932 -32% Dallas-Fort Worth-Arlington, TX                                         11,173 -7% Houston-The Woodlands-Sugar Land, TX                                           9,513 15% Phoenix-Mesa-Scottsdale, AZ                                           8,339 30% Atlanta-Sandy Springs-Roswell, GA                                           7,855 18% Austin-Round Rock, TX                                           7,372 -33% Miami-Fort Lauderdale-West Palm Beach, FL                                           7,112 14% Los Angeles-Long Beach-Anaheim, CA                                           7,071 -12% Charlotte-Concord-Gastonia, NC-SC                                           5,841 28% Denver-Aurora-Lakewood, CO                                           5,744 4% Related ‹ U.S. Adds 209,000 Jobs in JuneTags: home building, multifamily, single-family, state and local markets, state permits

Single-Family Permits Decline in May 20232023-07-17T09:18:00-05:00

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