BY DANUSHKA NANAYAKKARA-SKILLINGTON on NOVEMBER 15, 2022
Over the first nine months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 800,424. On a year-over-year (YoY) basis, this is 7.4% below the September 2021 level of 864,184.
Year-to-date ending in September, single-family permits declined in all four regions. The South posted a modest decline of 5.4%, while the Midwest region reported the steepest decline of 11.0%. The Northeast declined by 8.6% and the Western region reported an 10.0% decline in single-family permits during this time. On the other hand, multifamily permits posted increased in all four regions. Permits were 24.4% higher in the South, 22.5% higher in the Midwest, 11.3% higher in the West, and 6.0% higher in the Northeast.
Between September 2021 YTD and September 2022 YTD, seven states saw growth in single-family permits issued. New Mexico recorded the highest growth rate during this time at 35.2% going from 4,432 permits to 5,993. Forty-three states and the District of Columbia reported a decline in single-family permits during this time with the District of Columbia posting the steepest decline of 36.9% declining from 328 permits to 207. The ten states issuing the highest number of single-family permits combined accounted for 63.7% of the total single-family permits issued.
Year-to-date, ending in September, the total number of multifamily permits issued nationwide reached 516,955. This is 17.8% ahead of the September 2021 level of 438,700.
Between September 2021 YTD and September 2022 YTD, 41 states and the District of Columbia recorded growth, while nine states recorded a decline in multifamily permits. Georgia led the way with a sharp rise (159.9%) in multifamily permits from 8,375 to 21,766 while Delaware had the largest decline of 75.1% from 962 to 240. The ten states issuing the highest number of multifamily permits combined accounted for 63.5% of the multifamily permits issued.
At the local level, below are the top ten metro areas that issued the highest number of single-family permits.