NAHB: Permits for Single-Family and Multifamily Down In 2023

Over 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 909,227. On a year-over-year (YoY) basis, this is 6.5% below the December 2022 level of 972,180, according to the National Association of Home Builders (NAHB).

Year-to-date ending in December, single-family permits decreased in all four regions. The range of permit decline ranged from 5.0% in the South to 9.7% in the West. The Northeast decreased by 7.1% and the Midwest decreased by 7.6% in single-family permits during this time.

For multifamily permits the percentage decline ranged from 14.6% in the South region to 28.5% in the Northeast. The West decreased by 15.2% and the Midwest decreased by 21.1% in multifamily permits during this time.

Between December 2022 YTD and December 2023 YTD, except for Hawaii (+16.7%), Maryland (+8.7%), Nevada (+5.8%), West Virginia (+4.7%), Virginia (0.8%), North Carolina (0.7%), and Alabama (0.0%), all other states and the District of Columbia reported declines in single-family permits.

The range of declines ranged from 0.1% in Idaho to 59.4% in the District of Columbia. The ten states issuing the highest number of single-family permits combined accounted for 63.9% of the total single-family permits issued.

Texas, the state with the highest number of single-family permits issued, decreased 6.5% in the past 12 months; The succeeding highest state, Florida saw a decline of 6.9% while the next highest, North Carolina, posted an increase of 0.7%.

For 2023, the total number of multifamily permits issued nationwide reached 561,369. This is 17.4% below the December 2022 level of 679,898.

Between December 2022 YTD and December 2023 YTD, 15 states recorded growth in multifamily permits while 35 states and the District of Columbia recorded a decline. Delaware (+96.3%) led the way with a sharp rise in multifamily permits from 562 to 1,103, while Wyoming had the greatest decline of 74.2% from 1,044 to 269.

The ten states issuing the highest number of multifamily permits combined accounted for 63.2% of the multifamily permits issued. Over the last 12 months, Texas, the state with the highest number of multifamily permits issued, experienced a decline of 24.0%.

Following closely, the second-highest state in multifamily permits Florida, saw a decline of 12.4%. California, the third largest multifamily issuing state, decreased by 3.4%.

At the local level, below are the top ten metro areas that issued the highest number of single-family permits.

For multifamily permits below are the top ten local areas that issued the highest number of permits.

(Read more on Eyeonhousing.org)