Single-family permits on the decline
Between April 2018 and April 2019, 40 states see a decline in single-family permits.
Though the first four months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 261,119. On a year-over-year (YoY) basis, this is a 6.5% decline over the April 2018 level of 279,302, the National Association of Home Builders (NAHB) reported.
Year-to-date ending in April, single-family permits reported growth only in the Northeast region of the country.
The South, Midwest, and the West regions declined by 3.8%, 11.3%, and 12%, compared to the same time period in 2018. The Midwest region had the highest growth in multifamily (15.4%) while the West recorded a 9.3% decline in multifamily permits growth during the last 12 months, according to the NAHB.
Between April 2018 YTD and April 2019 YTD, 10 states and the District of Columbia saw growth in single-family permits issued while 40 states registered a decline.
The District of Columbia recorded the highest growth rate during this time at 111.1% from 45 to 95 while single-family permits in Montana declined by 28.3%, from 782 in 2018 to 561 in 2019.
The 10 states issuing the highest number of single-family permits combined accounted for 62.1% of the total single-family permits issued.
Year-to-date, ending in April 2019, the total number of multifamily permits issued nationwide reached 149,921. This is 2.4% ahead of its level over the year 2018, 146,337.
Between April 2018 YTD and April 2019 YTD, 26 states and the District of Columbia recorded growth while 23 states recorded a decline in multifamily permits.
Mississippi reported no change during this time. Maine led the way with a sharp rise (195.9%) in multifamily permits from 245 to 725, while North Dakota had the largest decline of 70.1% from 117 to 35.
The 10 states issuing the highest number of multifamily permits combined accounted for 64.0% of the multifamily permits issued.
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