The number of single family builder permits issued so far this year is up 8% nationwide from the May 2017 level, reports Danushka Nanayakkara-Skillington for the NAHB's Eye on Housing blog.
Year-to-date, across the country, single-family permits grew in all the regions except in the Northeast where it declined by 1.0% compared to May 2017 YTD. Out of the nine Northeastern states, only three, New Hampshire, New York, and Pennsylvania recorded an increase in single-family permit growth during this time while the other six states declined. Western region had the highest growth in single-family while South recorded the highest multifamily permits growth during the last 12 months.
Between May 2017 YTD and May 2018 YTD, 33 states saw growth in single-family permits issued while 17 states and the District of Columbia registered a decline. Colorado recorded the highest growth rate during this time at 28.7% while single-family permits in the District of Columbia declined by 72.8%, but from a small base, from 180 in 2017 to 49 in 2018. In the single-family sector, Texas led with 53,293 permits issued year-to-date in May 2018 and Florida came in second with 39,173 during this time. Meanwhile the lowest number came from the District of Columbia with 49 permits. The 10 states issuing the highest number of single-family permits combined accounted for 61.0% of the single-family permits issued.Read More