Over the first two months of 2020 – and prior to the impact of the coronavirus, the total number of single-family permits issued year-to-date (YTD) nationwide reached 141,467. On a year-over-year (YoY) basis, this is a 21.8% increase over the February 2019 level of 116,189.
Year-to-date ending in February, single-family permits reported growth across the four regions ranging from 27% in the West to 17.8% in the Northeast. In multifamily permits, Northeast (17.5%) & West (9.9%) posted growth while Midwest (-2.7%) and the Southern (-4.5%) region posted declines.
Between February 2019 YTD and February 2020 YTD, 45 states saw growth in single-family permits issued while five states and the District of Columbia registered a decline. Iowa recorded the highest growth rate during this time at 63.9% from 515 to 844, while single-family permits in the District of Columbia declined by 76.5%, from 51 in 2019 to 12 in 2020. The 10 states issuing the highest number of single-family permits combined accounted for 64.8% of the total single-family permits issued.
Year-to-date, ending in February 2020, the total number of multifamily permits issued nationwide reached 70,635. This is 2.7% ahead over the February 2019 level of 68,781.
Between February 2019 YTD and February 2020 YTD, 21 states recorded growth while 29 states and the District of Columbia recorded a decline in multifamily permits. Arizona led the way with a sharp rise (269.7%) in multifamily permits from 946 to 3,497, while North Dakota had the largest decline of 100.0% from 2 to 0. The 10 states issuing the highest number of multifamily permits combined accounted for 66.4% of the multifamily permits issued.