Over the first eight months of 2023, the total number of U.S. single-family permits issued year-to-date (YTD) nationwide reached 615,453. On a year-over-year (YoY) basis, this is 15.6% below the August 2022 level of 728,866, 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 range of permit decline spanned 10.7% in the Northeast to 21.7% in the West. The South declined by 13.7% and the Midwest declined by 15.4% in single-family permits during this time. For multifamily permits, the percentage decline spanned 8.1% in the South region to 29.1% in the Northeast. The West declined by 12.9% and the Midwest declined by 18.3% in multifamily permits during this time.
Between August 2022 YTD and August 2023 YTD, except for Hawaii (+16.8%) and Maryland (+5.2%), all the other states and the District of Columbia reported declines in single-family permits. The range of declines spanned 4.8% in New Jersey to 50.0% 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 16.7% in the past 12 months while the next two highest states, Florida and North Carolina declined by 15.8% and 8.8% respectively.
Year-to-date, ending in August, the total number of multifamily permits issued nationwide reached 394,257. This is 13.6% below the August 2022 level of 456,244.
Between August 2022 YTD and August 2023 YTD, 16 states recorded growth, while 34 states and the District of Columbia recorded a decline in multifamily permits. Delaware (+145.5%) led the way with a sharp rise in multifamily permits from 1220 to 540 while Wyoming had the largest decline of 75.9% from 519 to 125. The ten states issuing the highest number of multifamily permits combined accounted for 64.1% 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 0.8% and California increased by 7.1%.
