Over the first four months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 268,205. On a year-over-year (YoY) basis, this is 29.0% below the April 2022 level of 377,713.
Year-to-date ending in April, single-family permits declined in all four regions. The Northeast posted the lowest decline of 17.6%, while the West region reported the steepest decline of 39.0%. The Midwest declined by 27.3% and the South declined by 26.4% in single-family permits during this time. For multifamily permits, the South is the only region to post an increase of 6.0% while the other three regions posted declines. Multifamily permits in the West were down 7.1%, Midwest down 26.5%, and down in the Northeast by 31.6%.
Between April 2022 YTD and April 2023 YTD, except for New Jersey, all the other states and the District of Columbia reported declines in single-family permits. New Jersey posted a modest 1.1% increase while the other states posted declines ranging from 4.5% in Hawaii to 59.7% in Montana. The ten states issuing the highest number of single-family permits combined accounted for 65.0% of the total single-family permits issued. Texas, the state with the highest number of single-family permits declined 31.6% in the past 12 months while the next two highest states, Florida and North Carolina declined by 27.4% and 19.3% respectively.
Year-to-date, ending in April, the total number of multifamily permits issued nationwide reached 196,589. This is 7.6% below the April 2022 level of 212,734.
Between April 2022 YTD and April 2023 YTD, 18 states and the District of Columbia recorded growth, while 32 states recorded a decline in multifamily permits. North Dakota led the way with a sharp rise in multifamily permits from 32 to 433 while Kansas had the largest decline of 73.1% from 1,801 to 484. The ten states issuing the highest number of multifamily permits combined accounted for 65.4% of the multifamily permits issued. Texas, the state with the highest number of multifamily permits declined 10.7% in the past 12 months while the next two highest states, Florida and California increased by 29.2% and 2.3% respectively.
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||Apr-23 (# of units YTD, NSA)||YTD % Change
(compared to Apr-22)
|Houston-The Woodlands-Sugar Land, TX||15,391||-22%|
|Dallas-Fort Worth-Arlington, TX||12,738||-29%|
|Atlanta-Sandy Springs-Roswell, GA||7,385||-27%|
|Austin-Round Rock, TX||4,810||-44%|
|Tampa-St. Petersburg-Clearwater, FL||4,213||-20%|
For multifamily permits, below are the top ten local areas that issued the highest number of permits.
|Top 10 Largest MF Markets||Apr-23 (# of units YTD, NSA)||YTD % Change
(compared to Apr-22)
|New York-Newark-Jersey City, NY-NJ-PA||10,155||-42%|
|Dallas-Fort Worth-Arlington, TX||7,887||-19%|
|Houston-The Woodlands-Sugar Land, TX||7,671||13%|
|Miami-Fort Lauderdale-West Palm Beach, FL||6,669||87%|
|Austin-Round Rock, TX||6,070||-26%|
|Atlanta-Sandy Springs-Roswell, GA||5,790||3%|
|Los Angeles-Long Beach-Anaheim, CA||5,443||-3%|