Eye On Housing
Over the first eleven months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 799,679. On a year-over-year basis, this is a 5.1% increase over the November 2017 level of 761,229. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first eleven months of 2018 was, 800,000 which is 5.2% ahead of its level over the same period of 2017, 760,600.
Year-to-date ending in November, single-family permits grew in the Southern and the Western regions of the country, while the Midwest and Northeast declined by 2.6% and 3.0% respectively, compared to the same time period in 2017. The Western region had the highest growth in single-family (9.8%) while the South recorded the highest multifamily permits growth (13.2%) during the last 12 months. The South was the only region to record growth in multifamily permits during this time.
Between November 2017 YTD and November 2018 YTD, 26 states saw growth in single-family permits issued while 23 states and the District of Columbia registered a decline. There was no change in the number of permits issued in Arkansas. Colorado recorded the highest growth rate during this time at 18.9% while single-family permits in the District of Columbia declined by 69.6%, from 342 in 2017 to 104 in 2018. The 10 states issuing the highest number of single-family permits combined accounted for 59.9% of the total single-family permits issued.
Year-to-date, ending in November 2018, the total number of multifamily permits issued nationwide reached 422,456. This is 3.3% ahead of its level over the first eleven months of 2017, 409,003. The preliminary results from the New Residential Construction Survey show a small increase of 2.3% in multifamily permits over the first eleven months of 2018, 422,600 compared to the same period of 2017, 412,900.
Between November 2017 YTD and November 2018 YTD, 22 states recorded growth while 28 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 146 to 289, while Delaware had the largest decline of 57.7% from 1314 to 556. The 10 states issuing the highest number of multifamily permits combined accounted for 63.7% of the multifamily permits issued.
Danushka,
Are you able to grab the permits from all U.S. locations? I’m just wondering if we can use these numbers to suggest that it includes all the new construction – even those remote second home locations?
Thanks for the great work!
Brian
Hi Brian….the permit survey covers the nation, although some areas are measured in different ways. It would include second homes, although we measure that as stock every few years with the ACS. Read more here: https://eyeonhousing.org/2018/12/nations-stock-of-second-homes/