Sluggish Rebound in Single-Family Permits in December

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Over the year 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 854,158. On a year-over-year (YoY) basis, this is a 0.2% increase over the December 2018 level of 852,856.

 

Year-to-date ending in December, single-family permits reported declines in three regions and an increase in the South. The Northeast reported the steepest decline by 6.8%. The West and Midwest declined by 2.2% and 3.1% respectively, compared to the same time period in 2018. The Northeast region had the highest growth in multifamily (31.6%) while the West recorded the lowest growth in multifamily permits (4.1%) during the last 12 months as housing affordability concerns reduce production of both single-family and multifamily residences.

Between December 2018 YTD and December 2019 YTD, 19 states and the District of Columbia saw growth in single-family permits issued while 31 states registered a decline. The District of Columbia recorded the highest growth rate during this time at 50.0% from 112 to 168, while single-family permits in Vermont declined by 22.0%, from 1,131 in 2018 to 882 in 2019. The 10 states issuing the highest number of single-family permits combined accounted for 61.1% of the total single-family permits issued.

Year-to-date, ending in December 2019, the total number of multifamily permits issued nationwide reached 516,189. This is 11.0% ahead of its level over the year 2018, 465,039.

Between December 2018 YTD and December 2019 YTD, 35 states and the District of Columbia recorded growth while 15 states recorded a decline in multifamily permits. Connecticut led the way with a sharp rise (120.9%) in multifamily permits from 1,796 to 3,968, while North Dakota had the largest decline of 46.0% from 1,336 to 722. The 10 states issuing the highest number of multifamily permits combined accounted for 63.7% of the multifamily permits issued.

 



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