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%|
|Austin-Round Rock, TX||7,696||-41%|
|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%|
|Atlanta-Sandy Springs-Roswell, GA||8,925||19%|
|Austin-Round Rock, TX||8,640||-37%|