Decline in Single-Family Permits in June 2022

2022-08-12T10:17:35-05:00

Over the first six months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 567,798. On a year-over-year (YoY) basis, this is a 3.6% decline over the June 2021 level of 589,146. Year-to-date ending in June, single-family permits declined in all four regions. The South posted a small decline 0.8% while the Northeast region reported the steepest decline of 11.5%. The Midwest declined by 11.2% and the Western region reported a 4.6% decline in single-family permits during this time. Multifamily permits posted increases in all four regions. Permits were 32.3% higher in the Midwest, 22.9% higher in the South, 17.3% higher in the West, and 6.6% higher in the Northeast. Between June 2021 YTD and June 2022 YTD, 11 states saw growth in single-family permits issued. New Mexico recorded the highest growth rate during this time at 38.9% going from 3,061 permits to 4,252. Thirty-nine states and the District of Columbia reported a decline in single-family permits during this time with the District of Columbia posting the steepest decline of 22.7% going from 216 permits to 167. The ten states issuing the highest number of single-family permits combined accounted for 64.2% of the total single-family permits issued. Year-to-date, ending in June 2022, the total number of multifamily permits issued nationwide reached 331,934. This is 20.1% ahead over the June 2021 level of 276,433. Between June 2021 YTD and June 2022 YTD, 36 states and the District of Columbia recorded growth while 14 states recorded a decline in multifamily permits. Georgia led the way with a sharp rise (158.1%) in multifamily permits from 4,296 to 11,088 while Delaware had the largest decline of 74.5% from 667 to 170. The ten states issuing the highest number of multifamily permits combined accounted for 63.4% of the multifamily permits issued. At the local level, below are 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: Related ‹ Credit for Builders Less Available, Costs MoreTags: home building, multifamily, single-family, state and local markets, state permits

Decline in Single-Family Permits in June 20222022-08-12T10:17:35-05:00

Slowdown in Single-Family Permits in May 2022

2022-07-15T09:19:53-05:00

Over the first five months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 473,997. On a year-over-year (YoY) basis, this is a 2.0% decline over the May 2021 level of 483,878. Year-to-date ending in May, single-family permits declined in three out of the four regions. The South posted a moderate increase of 1.0% while the Northeast region reported the steepest decline of 11.7%. The Midwest declined by 11.2% and the Western region reported a 2.2% decline in single-family permits during this time. Multifamily permits posted increases in all four regions. Permits were 39.3% higher in the Midwest, 20.2% higher in the South, 10.9% higher in the West, and 1.8% higher in the Northeast. Between May 2021 YTD and May 2022 YTD, 12 states saw growth in single-family permits issued. New Mexico recorded the highest growth rate during this time at 42.2% going from 2,502 permits to 3,558. Thirty-eight states and the District of Columbia reported a decline in single-family permits during this time with the District of Columbia posting the steepest decline of 25.5% going from 208 permits to 155. The ten states issuing the highest number of single-family permits combined accounted for 64.4% of the total single-family permits issued. Year-to-date, ending in May 2022, the total number of multifamily permits issued nationwide reached 265,751. This is 17.3% ahead over the May 2021 level of 226,634. Between May 2021 YTD and May 2022 YTD, 33 states recorded growth while 17 states and the District of Columbia recorded a decline in multifamily permits. Indiana led the way with a sharp rise (274.6%) in multifamily permits from 1,134 to 4,248 while Delaware had the largest decline of 81.4% from 649 to 121. The ten states issuing the highest number of multifamily permits combined accounted for 62.6% of the multifamily permits issued. At the local level, below are 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:   Related ‹ Since Pandemic Onset, Lumber Products Have Added $14K to House Price, $51 to RentTags: home building, multifamily, single-family, state and local markets, state permits

Slowdown in Single-Family Permits in May 20222022-07-15T09:19:53-05:00

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