Market in Focus: Arizona Growing Quickly After Declines in 2020

Arizona’s population growth increased for the second consecutive year after falling during 2020. The population growth rate was 1.30% between 2021 and 2022 with the population increasing by 94,320 persons, the 8th fastest growth rate and 5th largest nominal increase in the U.S. between the years respectively. Arizona contains seven census designated MSAs. Two of…

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Single-Family Permits Decline in August 2023

Over the first eight months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 615,453. On a year-over-year (YoY) basis, this is 15.6% below the August 2022 level of 728,866. Year-to-date ending in August, single-family permits declined in all four regions. The range of permit decline spanned 10.7% in the Northeast…

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