Over the first eleven months of 2022, the U.S. total number of single-family permits issued year-to-date (YTD) nationwide reached 921,626. On a year-over-year (YoY) basis, this is 10.5% below the November 2021 level of 1,029,208, according to the National Association of Home Builders (NAHB).
Year-to-date ending in November, single-family permits declined in all four regions. The South posted a decline of 8.4%, while the West region reported the steepest decline of 13.9%. The Northeast declined by 10.2% and the Midwest declined by 13.6% in single-family permits during this time. On the other hand, multifamily permits posted increased in all but one region, Northeast (-1.4%). Permits were 25.2% higher in the South, 18.0% higher in the Midwest, and 5.6% higher in the West.
Between November 2021 YTD and November 2022 YTD, five states and the District of Columbia saw growth in single-family permits issued. New Mexico recorded the highest growth rate during this time at 37.5% going from 5,083 permits to 6,989. Forty-five states reported a decline in single-family permits during this time with Colorado posting the steepest decline of 27.9% declining from 31,741 permits to 22,900. The ten states issuing the highest number of single-family permits combined accounted for 63.4% of the total single-family permits issued.
Year-to-date, ending in November, the total number of multifamily permits issued nationwide reached 624,128. This is 14.8% ahead of the November 2021 level of 543,508.
Between November 2021 YTD and November 2022 YTD, 37 states and the District of Columbia recorded growth, while 13 states recorded a decline in multifamily permits. Georgia led the way with a sharp rise (141.7%) in multifamily permits from 11,385 to 27,520 while Delaware had the largest decline of 57.5% from 1,235 to 525. The ten states issuing the highest number of multifamily permits combined accounted for 63.3% of the multifamily permits issued.
