Over the first nine months of 2023, the total number of U.S. single-family permits issued year-to-date (YTD) nationwide reached 693,908. On a year-over-year (YoY) basis, this is 13.3% below the September 2022 level of 800,424.according to the National Association of Home Builders (NAHB).
Bild: NAHB
Year-to-date ending in September, single-family permits declined in all four regions. The range of permit decline spanned 10.8% in the Northeast to 19.3% in the West. The South declined by 11.3% and the Midwest declined by 13.3% in single-family permits during this time. For multifamily permits, the percentage decline spanned 11.4% in the South region to 29.9% in the Northeast. The West declined by 15.3% and the Midwest declined by 20.1% in multifamily permits during this time.
Between September 2022 YTD and September 2023 YTD, except for Hawaii (+16.9%) and Maryland (+6.4%), all the other states and the District of Columbia reported declines in single-family permits. The range of declines spanned 4.1% in New Hampshire to 49.2% 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 14.3% in the past 12 months while the next two highest states, Florida and North Carolina declined by 12.0% and 5.5% respectively.
Bild: NAHB
Year-to-date, ending in September, the total number of multifamily permits issued nationwide reached 433,862. This is 16.1% below the September 2022 level of 516,955.
Between September 2022 YTD and September 2023 YTD, 15 states recorded growth, while 35 states and the District of Columbia recorded a decline in multifamily permits. Delaware (+141.3%) led the way with a sharp rise in multifamily permits from 240 to 579 while Wyoming had the largest decline of 74.9% from 566 to 142. The ten states issuing the highest number of multifamily permits combined accounted for 64.0% of the multifamily permits issued. Texas, the state with the highest number of multifamily permits issued, declined 20.6% in the past 12 months while the next two highest states, Florida declined by 6.1% and California increased by 0.2%.
Bild: NAHB
