Multifamily Permits Holding Steady in April 2022

Facebooktwitterpinterestlinkedinmail

Over the first four months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 377,713. On a year-over-year (YoY) basis, this is a 1.7% decline over the April 2021 level of 384,196.

 

Year-to-date ending in April, single-family permits declined in three out of the four regions. The South posted a modest increase of 2.8% while the Midwest region reported the steepest decline of 14.3%. The Northeast declined by 13.3% and the Western region reported a 3.1% decline in single-family permits during this time. Multifamily permits posted increases in all four regions. Permits were 47.2% higher in the Midwest, 14.0% higher in the South, 10.8% higher in the West, and 7.8% higher in the Northeast.

Between April 2021 YTD and April 2022 YTD, 13 states and the District of Columbia saw growth in single-family permits issued. New Mexico recorded the highest growth rate during this time at 47.9% going from 1,988 permits to 2,941. Thirty-seven states reported a decline in single-family permits during this time with Pennsylvania posting the steepest decline of 25.8%. The ten states issuing the highest number of single-family permits combined accounted for 65.1% of the total single-family permits issued.

Year-to-date, ending in April 2022, the total number of multifamily permits issued nationwide reached 212,734. This is 16.1% ahead over the April 2021 level of 183,248.

Between April 2021 YTD and April 2022 YTD, 29 states recorded growth while 21 states and the District of Columbia recorded a decline in multifamily permits. Indiana led the way with a sharp rise (333.7%) in multifamily permits from 879 to 3,812 while North Dakota had the largest decline of 89.0% from 291 to 32. 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: 






Tags: , , , ,

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: