Over the first month of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 53,062. On a year-over-year (YoY) basis, this is 36.4% below the January 2022 level of 83,404.
Year-to-date ending in January, single-family permits declined in all four regions. The Northeast posted a decline of 20.3%, while the West region reported the steepest decline of 46.9%. The Midwest declined by 39.1% and the South declined by 33.5% in single-family permits during this time. The South posted an increase of 16.4% in multifamily permits while the other three regions posted declines. Multifamily permits were down 33.1% in the Northeast, down 24.2% in the Midwest, and down 11.1% in the West.
Between January 2022 YTD and January 2023 YTD, the District of Columbia, North Dakota, and New Mexico saw growth in single-family permits issued. The District of Columbia recorded the highest growth rate during this time at 20.0% going from 10 permits to 12. Forty-eight states reported a decline in single-family permits during this time ranging from 2.9% decline in New Jersey to 60.7% decline in Arizona. The ten states issuing the highest number of single-family permits combined accounted for 65.6% of the total single-family permits issued.
Year-to-date, ending in January, the total number of multifamily permits issued nationwide reached 47,936. This is 2.0% below the January 2022 level of 48,912.
Between January 2022 YTD and January 2023 YTD, 23 states and the District of Columbia recorded growth, while 26 states recorded a decline in multifamily permits. Rhode Island reported no change. The District of Columbia led the way with a sharp rise in multifamily permits from four to 788 while Maine had the largest decline of 83.0% from 147 to 25. The ten states issuing the highest number of multifamily permits combined accounted for 69.1% of the multifamily permits issued.
At the local level, below are the top ten metro areas that issued the highest number of single-family permits.
|Top 10 Largest SF Markets||January 2023 (# of units YTD, NSA)||YTD % Change
(compared to Jan 2022)
|Houston-The Woodlands-Sugar Land, TX||2,692||-40%|
|Dallas-Fort Worth-Arlington, TX||2,244||-44%|
|Atlanta-Sandy Springs-Roswell, GA||1,348||-41%|
|Tampa-St. Petersburg-Clearwater, FL||954||-35%|
|New York-Newark-Jersey City, NY-NJ-PA||945||-4%|
|Austin-Round Rock, TX||892||-59%|
For multifamily permits, below are the top ten local areas that issued the highest number of permits.
|Top 10 Largest MF Markets||January 2023 (# of units YTD, NSA)||YTD % Change
(compared to Jan 2022)
|Houston-The Woodlands-Sugar Land, TX||3,574||147%|
|Atlanta-Sandy Springs-Roswell, GA||2,359||318%|
|Dallas-Fort Worth-Arlington, TX||2,336||-18%|
|New York-Newark-Jersey City, NY-NJ-PA||1,638||-55%|
|Miami-Fort Lauderdale-West Palm Beach, FL||1,384||21%|
|Tampa-St. Petersburg-Clearwater, FL||1,156||1462%|
|San Antonio-New Braunfels, TX||983||-38%|