Single-family permits rise in November 2024

In the first eleven months of 2024, the total number of single-family permits issued year-to-date (YTD) nationwide was 912,910.

On a year-over-year (YoY) basis, this is an 8.2% growth from the November 2023 level of 843,654.

Single-family permits increased year-to-date through November in all four regions. The permit hikes ranged from 11.5% in the Midwest to 6.3% in the South.

During this time, single-family permits in the West increased by 11.4%, while in the Northeast they increased by 9.4%.

Three of the four regions reported declines in multifamily permits.

The Northeast, led by New York City’s MSA, was the only region to see an increase, rising by 32.6%.

Meanwhile, the West decreased by 29.7%, the South by 19.6%, and the Midwest by 3.1%.

Between November 2024 and November 2023, 44 states saw an increase in single-family permits. The increases ranged from 31.4% in Montana to 2.6% in Missouri.

The remaining six states and the District of Columbia recorded a decrease in single-family permits. The 10 states that provided the most single-family permits combined for 62.9% of the total number of permits issued.

Texas, the state with the most single-family permits, issued 146,843 permits in the first eleven months of 2024, an 8.8% increase over the same time previous year. The second highest state, Florida, fell 0.3%, while the third highest, North Carolina, rose 7.0%.

The total number of multifamily permits issued countrywide from January to November was 445,357. This is 14.5% lower than the November 2023 level of 520,919.

Between November 2024 and November 2023 YTD, 21 states saw an increase in multifamily permits, while 29 states and the District of Columbia saw a decrease.

New York (+113.8%) led the way with a high increase in multifamily permits from 14,544 to 31,098, while Idaho experienced the largest decline of 54.3%, from 5,469 to 2,497.

The 10 states that issued the most multifamily permits combined to account for 62.3% of all multifamily permits issued.

Texas, the state with the most multifamily permits issued in 2024, saw a 21.3% decrease in the first eleven months.

Following closely, Florida, the second-highest state in multifamily permits, experienced a 25.0% drop.

California, the third-largest multifamily issuing state, fell by 32.0%.

At the local level, the top ten metropolitan areas that issued the most single-family permits are listed below.

The top ten local areas issuing the most multifamily permits are listed below.

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