Over the first nine months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 664,665. On a year-over-year basis, this is a 5.7% increase over the September 2017 level of 628,858. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first nine months of 2018 was, 663,800 which is 5.5% ahead of its level over the same period of 2017, 628,900. However, recent months have registered a notable slowdown for construction.
Year-to-date, single-family permits grew in the Southern and the Western regions of the country, while the Midwest and Northeast declined by 0.9% and 6.4% respectively, compared to September 2017 YTD. The Western region had the highest growth in single-family (11.5%) while the South recorded the highest multifamily permits growth (14.9%) during the last 12 months.
Between September 2017 YTD and September 2018 YTD, 27 states saw growth in single-family permits issued while 23 states and the District of Columbia registered a decline. Colorado recorded the highest growth rate during this time at 22.0% while single-family permits in the District of Columbia declined by 67.9%, from 280 in 2017 to 90 in 2018.
In the single-family sector, Texas led with 97,072 permits issued year-to-date in September 2018 and Florida came in second with 72,630 during this time. Meanwhile the lowest number came from the District of Columbia with 90 permits. The 10 states issuing the highest number of single-family permits combined accounted for 60.2% of the single-family permits issued.
Year-to-date, ending in September 2018, the total number of multifamily permits issued nationwide reached 340,148. This is 4.3% ahead of its level over the first nine months of 2017, 326,201. The preliminary results from the New Residential Construction Survey show an increase of 1.3% in multifamily permits over the first nine months of 2018, 337,200 compared to the same period of 2017, 332,900.
Between September 2017 YTD and September 2018 YTD, 28 states recorded growth while 22 states and the District of Columbia recorded a decline in multifamily permits. Rhode Island lead the way with a sharp rise in multifamily permits from 30 to 278, while Mississippi had the largest decline of 73.7% from 965 to 254.
In the multifamily sector, Texas issued the highest number of multifamily permits year-to-date in September 2018 at 47,079, with California and Florida issuing the second and third most multifamily permits year-to-date, 40,995 and 34,332 respectively. Meanwhile Wyoming issued the lowest number of multifamily permits at 137. The 10 states issuing the highest number of multifamily permits combined accounted for 64.3% of the multifamily permits issued.