Over the first eight months of 2024, the total number of single-family permits issued year-to-date increased 11.5% year-over-year to 685,923, according to the NAHB. Permits increased in all four census regions, with the largest increase in the West.
On a metro level, the largest single-family permit markets include: Houston-The Woodlands-Sugar Land, Texas; Dallas-Fort Worth-Arlington, Texas; Phoenix-Mesa-Scottsdale, Arizona; Atlanta-Sandy Springs-Roswell, Georgia; and Charlotte-Concord-Gastonia, NorthCarolina-South Carolina. Nine of the top ten single-family markets for permits posted year-over-year increases compared to the first eight months of 2023.
Year-to-date ending in August, single-family permits were up in all four regions. The range of permit increases spanned 16.2% in the West to 9.7% in the South. The Midwest was up by 12.3% and the Northeast was up by 10.3% in single-family permits during this time. For multifamily permits, three out of the four regions posted declines. The Northeast, driven by New York, was the only region to post an increase and was up by 28.9%. Meanwhile, the West posted a decline of 32.2%, the South declined by 21.8%, and the Midwest declined by 9.0%.
Between August 2024 YTD and August 2023 YTD, 47 states posted an increase in single-family permits. The range of increases spanned 44.5% in New Mexico to 1.5% in Maryland. New Hampshire (-1.2%), the District of Columbia (-3.2%), Hawaii (-7.9%), and Alaska (-21.4%) reported declines in single-family permits. The ten states issuing the highest number of single-family permits combined accounted for 63.5% of the total single-family permits issued. Texas, the state with the highest number of single-family permits, issued 110,907 permits over the first eight months of 2024, which is an increase of 12.4% compared to the same period last year.
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