Strong Rebound in Single-Family Permits, Multifamily Permits Decline

The number of single-family home permits issued nationwide in January 2024 surged 43.1% year-over-year to 75,906.

As of January, all four regions saw permit increases ranging from 67.0% in the West to 19.4% in the Northeast. The South and Midwest rose by 39.4% and 36.5%, respectively.

In contrast, multifamily permits showed mixed results. Nationwide, permits issued in January 2024 fell 18.9% compared to the same period in 2023. While 21 states recorded growth, 29 states and the District of Columbia saw declines.

Single-Family Permits Up Across the Nation

Texas led the nation in single-family permits with 12,707 issued in January, a 55.8% increase year-over-year. Florida and North Carolina followed closely with increases of 40.4% and 30.6%, respectively.

Between January 2024 and January 2023, 44 states reported increases in single-family permits (increases ranged from 128% in Nevada to 2.4% in Mississippi), with only five states and the District of Columbia experiencing declines.

The ten states issuing the highest number of single-family permits combined accounted for 67.7% of the total issued.

Multifamily Permits Decline

Nationwide, permits issued for multifamily units in January 2024 totaled 38,870, a decrease of 18.9% compared to January 2023.

Texas, the state with the highest number of multifamily permits issued in January, saw a decline of 25.1% year-over-year.

Florida and California, the second and third-highest issuers, also experienced declines of 30.3% and 33.6%, respectively.

While Wyoming led the way with a surge of 377.8% (from 9 to 43 permits), 21 states overall recorded growth in multifamily permits, while 29 states and the District of Columbia saw declines.

The ten states issuing the highest number of multifamily permits combined accounted for 68.1% of the total issued.

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.

(Source: Eyeonhousing.org)