Single-Family Permits Decrease in June 2023

Over the first six months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 449,226. On a year-over-year (YoY) basis, this is 20.9% below the June 2022 level of 567,798.

Year-to-date ending in June, single-family permits declined in all four regions. The Northeast posted the lowest decline of 11.0%, while the West region reported the steepest decline of 28.1%. The South declined by 19.1% and the Midwest declined by 20.5% in single-family permits during this time. For multifamily permits, the South region posted a modest decline of 2.7% while the West declined by 13.7%, the Midwest declined by 18.9%, and the Northeast declined by 29.0%.

Between June 2022 YTD and June 2023 YTD, except for Hawaii (+21.4%) and New Jersey (+0.3%), all the other states and the District of Columbia reported declines in single-family permits. The range of declines spanned 5.5% in Maine to 60.0% in Alaska. The ten states issuing the highest number of single-family permits combined accounted for 64.2% of the total single-family permits issued. Texas, the state with the highest number of single-family permits issued, declined 23.9% in the past 12 months while the next two highest states, Florida and North Carolina declined by 20.3% and 12.0% respectively.

Year-to-date, ending in June, the total number of multifamily permits issued nationwide reached 293,301. This is 11.6% below the June 2022 level of 331,934.

Between June 2022 YTD and June 2023 YTD, 19 states recorded growth, while 31 states and the District of Columbia recorded a decline in multifamily permits. Rhode Island (+181.1%) led the way with a sharp rise in multifamily permits from 106 to 298 while Maine had the largest decline of 55.3% from 1,518 to 679. The ten states issuing the highest number of multifamily permits combined accounted for 64.9% of the multifamily permits issued. Texas, the state with the highest number of multifamily permits issued, declined 14.1% in the past 12 months while the next two highest states, Florida and California increased by 2.7% and 0.7% 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 June-23 (# of units YTD, NSA) YTD % Change
(compared to June-22)
Houston-The Woodlands-Sugar Land, TX                                           25,155 -13%
Dallas-Fort Worth-Arlington, TX                                           20,623 -22%
Atlanta-Sandy Springs-Roswell, GA                                           12,104 -19%
Phoenix-Mesa-Scottsdale, AZ                                           11,046 -38%
Charlotte-Concord-Gastonia, NC-SC                                             9,515 -17%
Orlando-Kissimmee-Sanford, FL                                             8,601 -12%
Austin-Round Rock, TX                                             7,696 -41%
Nashville-Davidson–Murfreesboro–Franklin, TN                                             7,378 -21%
Tampa-St. Petersburg-Clearwater, FL                                             6,946 -15%
Riverside-San Bernardino-Ontario, CA                                             6,828 -10%

For multifamily permits, below are the top ten local areas that issued the highest number of permits. 

Top 10 Largest MF Markets June-23 (# of units YTD, NSA) YTD % Change
(compared to June-22)
New York-Newark-Jersey City, NY-NJ-PA                                           15,663 -42%
Dallas-Fort Worth-Arlington, TX                                           13,145 -17%
Houston-The Woodlands-Sugar Land, TX                                           10,663 -11%
Los Angeles-Long Beach-Anaheim, CA                                             9,151 -10%
Miami-Fort Lauderdale-West Palm Beach, FL                                             9,126 26%
Phoenix-Mesa-Scottsdale, AZ                                             9,031 9%
Atlanta-Sandy Springs-Roswell, GA                                             8,925 19%
Austin-Round Rock, TX                                             8,640 -37%
Denver-Aurora-Lakewood, CO                                             6,526 -9%
Charlotte-Concord-Gastonia, NC-SC                                             6,214 25%



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One thought on “Single-Family Permits Decrease in June 2023

  1. Construction loan customers may want to proceed cautiously as the article reports a decrease in single-family permits. This trend might indicate reduced demand for new homes, potentially impacting loan repayment and project viability. Staying informed about market conditions is crucial for making sound construction financing decisions.

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