Double Digit Declines for Single-Family Permits in April 2023 in All Regions

Facebooktwitterpinterestlinkedinmail

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%
Phoenix-Mesa-Scottsdale, AZ                                             6,597 -49%
Charlotte-Concord-Gastonia, NC-SC                                             6,185 -20%
Orlando-Kissimmee-Sanford, FL                                             5,344 -20%
Austin-Round Rock, TX                                             4,810 -44%
Nashville-Davidson–Murfreesboro–Franklin, TN                                             4,471 -32%
Tampa-St. Petersburg-Clearwater, FL                                             4,213 -20%
Raleigh, NC                                             4,084 -25%

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%
Phoenix-Mesa-Scottsdale, AZ                                             7,238 41%
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%
Charlotte-Concord-Gastonia, NC-SC                                             4,718 35%
Nashville-Davidson–Murfreesboro–Franklin, TN                                             4,695 138%




Tags: , , , ,

1 reply

  1. Construction loans are a major factor in the housing market now more than ever, as the decline in single-family permits points to an overall downward trend. It’s important to keep an eye on trends like this, as they can affect housing starts and overall construction.

Leave a Reply

Your email address will not be published. Required fields are marked *