Chart: Single-Family Permits Down, Multi-Family Up in Oct 2022
Over the first ten months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 865,815. On a year-over-year (YoY) basis, this is 8.7% below the October 2021 level of 948,321.
Year-to-date ending in October, single-family permits declined in all four regions. The South posted a modest decline of 6.8%, while the Midwest and the West regions reported the steepest decline of 11.6%. The Northeast declined by 9.7% in single-family permits during this time. On the other hand, multifamily permits posted increased in all four regions. Permits were 27.7% higher in the South, 17.8% higher in the Midwest, 9.1% higher in the West, and 2.4% higher in the Northeast.
Between October 2021 YTD and October 2022 YTD, seven states saw growth in single-family permits issued. New Mexico recorded the highest growth rate during this time at 39.2% going from 4,718 permits to 6,567. Forty-three states and the District of Columbia reported a decline in single-family permits during this time with Colorado posting the steepest decline of 26.0% declining from 29,358 permits to 21,726. The ten states issuing the highest number of single-family permits combined accounted for 63.5% of the total single-family permits issued.
Year-to-date, ending in October, the total number of multifamily permits issued nationwide reached 575,671. This is 17.4% ahead of the October 2021 level of 490,172.
Between October 2021 YTD and October 2022 YTD, 39 states and the District of Columbia recorded growth, while 11 states recorded a decline in multifamily permits. Georgia led the way with a sharp rise (168.7%) in multifamily permits from 9,237 to 24,818 while Delaware had the largest decline of 61.5% from 968 to 373. The ten states issuing the highest number of multifamily permits combined accounted for 63.5% of the multifamily permits issued.
At the local level, below are the top ten metro areas that issued the highest number of single-family permits.
|Metropolitan Statistical Area||Single-Family Permits: Oct-22 (Units #YTD, NSA)|
|Houston-The Woodlands-Sugar Land, TX||42,826|
|Dallas-Fort Worth-Arlington, TX||39,154|
|Atlanta-Sandy Springs-Roswell, GA||23,805|
|Austin-Round Rock, TX||19,582|
|Tampa-St. Petersburg-Clearwater, FL||13,733|
For multifamily permits, below are the top ten local areas that issued the highest number of permits.
|Metropolitan Statistical Area||Multifamily Permits: Oct-22 (Units #YTD, NSA)|
|New York-Newark-Jersey City, NY-NJ-PA||40,527|
|Dallas-Fort Worth-Arlington, TX||28,844|
|Houston-The Woodlands-Sugar Land, TX||24,121|
|Austin-Round Rock, TX||20,505|
|Los Angeles-Long Beach-Anaheim, CA||18,600|
|Atlanta-Sandy Springs-Roswell, GA||17,018|
|Minneapolis-St. Paul-Bloomington, MN-WI||14,053|