Over the first eight months of 2022, the total number of U.S. single-family permits issued year-to-date (YTD) nationwide reached 728,866. On a year-over-year (YoY) basis, this is 6.0% below the August 2021 level of 775,772, according to the National Association of Home Builders (NAHB).
Bild: NAHB
Year-to-date ending in August, single-family permits declined in all four regions. The South posted a modest decline of 3.9%, while the Midwest region reported the steepest decline of 10.6%. The Northeast declined by 9.8% and the Western region reported an 8.0% decline in single-family permits during this time. On the other hand, multifamily permits posted increased in all four regions. Permits were 24.4% higher in the Midwest, 22.5% higher in the South, 9.6% higher in the West, and 3.8% higher in the Northeast.
Between August 2021 YTD and August 2022 YTD, eight states saw growth in single-family permits issued. New Mexico recorded the highest growth rate during this time at 37.1% going from 3,961 permits to 5,431. Forty-two states and the District of Columbia reported a decline in single-family permits during this time with the District of Columbia posting the steepest decline of 25.4% declining from 268 permits to 200. The ten states issuing the highest number of single-family permits combined accounted for 63.9% of the total single-family permits issued.
Bild: NAHB
Year-to-date, ending in August, the total number of multifamily permits issued nationwide reached 456,244. This is 16.4% ahead of the August 2021 level of 392,067.
Between August 2021 YTD and August 2022 YTD, 39 states and the District of Columbia recorded growth, while 11 states recorded a decline in multifamily permits. Hawaii led the way with a sharp rise (187.8%) in multifamily permits from 320 to 921 while Delaware had the largest decline of 76.3% from 928 to 220. The ten states issuing the highest number of multifamily permits combined accounted for 63.6% of the multifamily permits issued.
Bild: NAHB
