Single-Family Permits Down in October 2023

Over the first ten months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 773,526. On a year-over-year (YoY) basis, this is 10.7% below the October 2022 level of 865,815.

Year-to-date ending in October, single-family permits declined in all four regions. The range of permit decline spanned 8.6% in the Northeast to 16.1% in the West. The South declined by 8.7% and the Midwest declined by 11.2% in single-family permits during this time. For multifamily permits, the percentage decline spanned 12.0% in the South region to 26.0% in the Northeast. The West declined by 16.4% and the Midwest declined by 22.1% in multifamily permits during this time.

Between October 2022 YTD and October 2023 YTD, except for Hawaii (+18.6%) and Maryland (+7.9%), all the other states and the District of Columbia reported declines in single-family permits. The range of declines spanned 1.6% in New Hampshire to 47.8% in the District of Columbia. The ten states issuing the highest number of single-family permits combined accounted for 63.8% of the total single-family permits issued. Texas, the state with the highest number of single-family permits issued, declined 11.0% in the past 12 months while the next two highest states, Florida and North Carolina declined by 10.2% and 2.9% respectively.

Year-to-date, ending in October, the total number of multifamily permits issued nationwide reached 481,612. This is 16.3% below the October 2022 level of 575,671.

Between October 2022 YTD and October 2023 YTD, 12 states recorded growth, while 38 states and the District of Columbia recorded a decline in multifamily permits. Delaware (+64.9%) led the way with a sharp rise in multifamily permits from 373 to 615 while Wyoming had the largest decline of 80.9% from 1,016 to 194. The ten states issuing the highest number of multifamily permits combined accounted for 63.7% of the multifamily permits issued. Texas, the state with the highest number of multifamily permits issued, declined 21.4% in the past 12 months while the next two highest states, Florida and California declined by 9.0% and 1.5% 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 Oct-23 (# of units YTD, NSA) YTD % Change
(compared to Oct-22)
Houston-The Woodlands-Sugar Land, TX                                         43,270 1%
Dallas-Fort Worth-Arlington, TX                                         35,826 -8%
Atlanta-Sandy Springs-Roswell, GA                                         20,519 -14%
Phoenix-Mesa-Scottsdale, AZ                                         20,436 -16%
Charlotte-Concord-Gastonia, NC-SC                                         16,241 -3%
Orlando-Kissimmee-Sanford, FL                                         14,748 5%
Austin-Round Rock, TX                                         14,390 -27%
Tampa-St. Petersburg-Clearwater, FL                                         12,226 -11%
Nashville-Davidson–Murfreesboro–Franklin, TN                                         12,083 -11%
Jacksonville, FL                                         10,822 -14%

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

Top 10 Largest MF Markets Oct-23 (# of units YTD, NSA) YTD % Change
(compared to Oct-22)
New York-Newark-Jersey City, NY-NJ-PA                                         24,551 -39%
Dallas-Fort Worth-Arlington, TX                                         21,484 -26%
Austin-Round Rock, TX                                         18,753 -9%
Phoenix-Mesa-Scottsdale, AZ                                         16,746 2%
Houston-The Woodlands-Sugar Land, TX                                         16,727 -31%
Los Angeles-Long Beach-Anaheim, CA                                         15,950 -14%
Miami-Fort Lauderdale-West Palm Beach, FL                                         15,530 37%
Atlanta-Sandy Springs-Roswell, GA                                         13,796 -19%
Washington-Arlington-Alexandria, DC-VA-MD-WV                                         10,494 -38%
Seattle-Tacoma-Bellevue, WA                                           9,577 -44%



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