Over the first three months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 278,189. On a year-over-year (YoY) basis, this is a 0.8% increase over the March 2021 level of 276,110.
Year-to-date ending in March, single-family permits declined in three out of the four regions. The South posted a modest increase of 4.8% while the Midwest region reported the steepest decline of 11.2%. The Northeast declined by 9.4% and the Western region reported a 0.9% decline in single-family permits during this time. Multifamily permits posted double digit increases in all four regions. Permits were 41.5% higher in the Midwest, 14.9% higher in the South, 14.0% higher in the West, and 11.8% higher in the Northeast.
Between March 2021 YTD and March 2022 YTD, 18 states and the District of Columbia saw growth in single-family permits issued. The District of Columbia recorded the highest growth rate during this time at 50.0% going from 80 permits to 120. Thirty-two states reported a decline in single-family permits during this time with Iowa posting the steepest decline of 24.8%. The ten states issuing the highest number of single-family permits combined accounted for 65.7% of the total single-family permits issued.
Year-to-date, ending in March 2022, the total number of multifamily permits issued nationwide reached 153,720. This is 17.1% ahead over the March 2021 level of 131,227.
Between March 2021 YTD and March 2022 YTD, 30 states recorded growth while 20 states and the District of Columbia recorded a decline in multifamily permits. Indiana led the way with a sharp rise (304.4%) in multifamily permits from 517 to 2091 while Rhode Island had the largest decline of 88.4% from 121 to 14. The ten states issuing the highest number of multifamily permits combined accounted for 62.4% of the multifamily permits issued.
At the local level, below are top ten metro areas that issued the highest number of single-family permits.
For multifamily permits, below are the top ten local areas that issued the highest number of permits: