Over the twelve months ending in December 2017, the total number of single-family permits issued nationwide reached 817,319. This is 9.6% ahead of its level over the first twelve months of 2016, 745,525. The results from the SOC are similar, single-family permits over the first twelve months of 2017, 817,700 are 8.9% ahead of their level over the same period of 2016, 750,800*.
Between December 2016 to December 2017, 45 states and the District of Columbia saw growth in single-family permits issued. Twenty states recorded a growth above 9.6% but five states had a decline in growth. Hawaii had the highest growth rate during this time at 23.6% while single-family permits North Dakota declined by 9.8%. It’s important to note that the year-to-date figures are based on a sample of permitting offices. The annual data, which will be released later in the year, will reflect information from all offices.
In the single-family sector, Texas led with 114,094 permits issued year-to-date in December 2017 and Florida was second with 83,911 permits issued year-to-date in December 2017. Meanwhile the lowest number came from the District of Columbia with 352 permits. The 10 states issuing the highest number of single-family permits combined accounted for 58.0% of the single-family permits issued.
Year-to-date, ending in December 2017, the total number of multi-family permits issued nationwide reached 446,732. This is 0.5% ahead of its level over the first twelve months of 2016, 444,666. The results from the SOC show a small decline of 2.2% in multi-family permits over the first twelve months of 2017, 445,700 compared to the same period of 2016, 455,900. Together these two data sources suggest that multifamily starts over the first 12 months of 2017 were likely about flat.
Between December 2016 to December 2017, 24 states and the District of Columbia grew while 26 states, recorded a decline in multi-family permits. Twenty-four states and the District of Columbia recorded a growth above 0.5%. Wyoming lead the way with a growth of 160.7%, from 173 to 451, while Oklahoma had the largest decline of 51.8% from 3,197, to 1,542.
In the multi-family sector, Texas issued the highest number of permits in December 2017 year-to-date at 55,791, with California and Florida issuing the second and third most multifamily permits year-to-date, 55,186 and 34,637 respectively. Meanwhile Rhode Island issued the lowest number of multi-family permits at 159.
* The SOC is the source of the monthly New Residential Construction release.