Over the first quarter of 2018, the total number of single-family permits issued nationwide reached 199,861. On a year-over-year basis, this is a 6.0% increase over the March 2017 level of 188,593. The results from the SOC are similar, single-family permits over the third month of 2018 was, 198,600 which is 5.3% ahead of its level over the same period of 2017, 188,600*.
Between March 2017 and March 2018, 26 states saw growth in single-family permits issued while 24 states and the District of Columbia registered a decline. Seventeen states, including California, recorded a growth above 6.0%. Idaho had the highest growth rate during this time at 42.3% while single-family permits in the District of Columbia declined by 69.1%, but from a small base, from 145 in 2017 to 34 in 2018.
In the single-family sector, Texas led with 30,801 permits issued year-to-date in March 2018 and Florida came in second with 21,803 during this time. Meanwhile the lowest number came from the District of Columbia with 34 permits. The 10 states issuing the highest number of single-family permits combined accounted for 63.0% of the single-family permits issued.
Year-to-date, ending in March 2018, the total number of multifamily permits issued nationwide reached 105,562. This is 8.5% ahead of its level over the third month of 2017, 97,313. The results from the SOC show an increase of 7.7% in multifamily permits over the third month of 2018, 104,900 compared to the same period of 2017, 97,400.
Between March 2017 to March 2018, 25 states and the District of Columbia recorded growth while 25 states recorded a decline in multifamily permits. Rhode Island lead the way with a growth rate of 1225.0%, from 4 to 53, while Mississippi had the largest decline of 89.22% from 790 to 85.
In the multifamily sector, California issued the highest number of permits YTD in March 2018 at 12,819, with Florida and Texas issuing the second and third most multifamily permits year-to-date, 12,034 and 10,997 respectively. Meanwhile Wyoming issued the lowest number of multifamily permits at 27. The 10 states issuing the highest number of multifamily permits combined accounted for 65.9% of the multifamily permits issued.
* The SOC is the source of the monthly New Residential Construction release.