Over the first seven months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 527,158. On a year-over-year (YoY) basis, this is 18.4% below the July 2022 level of 645,877.
Year-to-date ending in July, single-family permits declined in all four regions. The Northeast posted the lowest decline of 12.1%, while the West region reported the steepest decline of 25.1%. The South declined by 16.5% and the Midwest declined by 18.0% in single-family permits during this time. For multifamily permits, the South region posted a modest decline of 7.5% while the West declined by 14.1%, the Midwest declined by 20.8%, and the Northeast declined by 31.2%.
Between July 2022 YTD and July 2023 YTD, except for Hawaii (+16.1%), all the other states and the District of Columbia reported declines in single-family permits. The range of declines spanned 1.5% in Maryland to 49.3% in Alaska. The ten states issuing the highest number of single-family permits combined accounted for 63.9% of the total single-family permits issued. Texas, the state with the highest number of single-family permits issued, declined 20.3% in the past 12 months while the next two highest states, Florida and North Carolina declined by 18.8% and 10.3% respectively.
Year-to-date, ending in July, the total number of multifamily permits issued nationwide reached 337,730. This is 14.3% below the July 2022 level of 394,215.
Between July 2022 YTD and July 2023 YTD, 16 states recorded growth, while 34 states and the District of Columbia recorded a decline in multifamily permits. Rhode Island (+150.0%) led the way with a sharp rise in multifamily permits from 126 to 315 while Wyoming had the largest decline of 63.6% from 302 to 110. The ten states issuing the highest number of multifamily permits combined accounted for 64.8% of the multifamily permits issued. Texas, the state with the highest number of multifamily permits issued, declined 19.3% in the past 12 months while the next two highest states, Florida declined by 2.9% and California increased by 4.5%.
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 | July-23 (# of units YTD, NSA) | YTD % Change (compared to July-22) |
| Houston-The Woodlands-Sugar Land, TX | 29,687 | -8% |
| Dallas-Fort Worth-Arlington, TX | 24,088 | -19% |
| Atlanta-Sandy Springs-Roswell, GA | 14,417 | -14% |
| Phoenix-Mesa-Scottsdale, AZ | 13,302 | -33% |
| Charlotte-Concord-Gastonia, NC-SC | 11,174 | -13% |
| Orlando-Kissimmee-Sanford, FL | 10,020 | -9% |
| Austin-Round Rock, TX | 9,202 | -39% |
| Nashville-Davidson–Murfreesboro–Franklin, TN | 8,669 | -17% |
| Tampa-St. Petersburg-Clearwater, FL | 8,050 | -22% |
| Raleigh, NC | 7,639 | -10% |
For multifamily permits, below are the top ten local areas that issued the highest number of permits.
| Top 10 Largest MF Markets | July-23 (# of units YTD, NSA) | YTD % Change (compared to July-22) |
| New York-Newark-Jersey City, NY-NJ-PA | 17,802 | -43% |
| Dallas-Fort Worth-Arlington, TX | 15,567 | -23% |
| Houston-The Woodlands-Sugar Land, TX | 11,897 | -22% |
| Phoenix-Mesa-Scottsdale, AZ | 11,608 | 7% |
| Los Angeles-Long Beach-Anaheim, CA | 10,925 | -5% |
| Austin-Round Rock, TX | 10,895 | -32% |
| Miami-Fort Lauderdale-West Palm Beach, FL | 10,266 | 25% |
| Atlanta-Sandy Springs-Roswell, GA | 10,000 | 0% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 7,347 | -27% |
| Denver-Aurora-Lakewood, CO | 7,148 | -16% |
Discover more from Eye On Housing
Subscribe to get the latest posts to your email.
The decline in single-family permits in July 2023, as highlighted in the article, underscores the challenges faced by the construction industry. This trend could impact the availability of construction loans, potentially leading to stricter lending criteria or higher interest rates for builders, further impacting the housing market.