Texas, Florida lead single-family permit growth
For the first 7 months of 2018, the total number of single-family permits issued year-to-date nationwide reached 521,438, the National Association of Home Builders (NAHB) reports.
On a year-over-year basis, this is a 7.0% increase over the July 2017 level of 487,495. The preliminary results from the New Residential Construction Survey from the U.S. Department of Commerce, show that year-to-date single-family permits over the first seven months of 2018 are at 522,200, a 7.5% jump from 485,900 for the same period in 2017.
Single-family permits in the South and West have grown 14.3% and 15.2% in the past 12 months. But have fallen 1.6% in the Northeast during that span, and have been static in the Midwest.
From July 2017 to July 2018, a total of 34 states had single-family permit growth while 16 states and Washington, D.C. saw a decline. The highest rate registered in Colorado with a 27.6% growth rate. In contrast, Washington, D.C. saw nearly a 70% drop.
Texas leads all states with 76,144 permits issued year-to-date in July 2018 with Florida second at 56,939, the NAHB said.
The 10 states issuing the highest number of single-family permits combined accounted for 60.6% of the single-family permits issued.
Year-to-date, ending in July 2018, the total number of multifamily permits issued nationwide reached 263,897. This is 6.7% ahead of its level over the first seven months of 2017, 247,391. The preliminary results from the New Residential Construction Survey show an increase of 5.5% in multifamily permits over the first 7 months of 2018 – a total of 265,400 compared to 251,500 for same period in 2017.
Between July 2017 YTD and July 2018 YTD, 32 states recorded growth while 18 states and the District of Columbia recorded a decline in multifamily permits, according to the NAHB. Rhode Island leads the way with a growth rate of 468%, from 25 to 142, while Mississippi had the largest decline of 76.2% from 917 to 218.
On a year-over-year basis, this is a 7.0% increase over the July 2017 level of 487,495. The preliminary results from the New Residential Construction Survey from the U.S. Department of Commerce, show that year-to-date single-family permits over the first seven months of 2018 are at 522,200, a 7.5% jump from 485,900 for the same period in 2017.
Single-family permits in the South and West have grown 14.3% and 15.2% in the past 12 months. But have fallen 1.6% in the Northeast during that span, and have been static in the Midwest.
From July 2017 to July 2018, a total of 34 states had single-family permit growth while 16 states and Washington, D.C. saw a decline. The highest rate registered in Colorado with a 27.6% growth rate. In contrast, Washington, D.C. saw nearly a 70% drop.
Texas leads all states with 76,144 permits issued year-to-date in July 2018 with Florida second at 56,939, the NAHB said.
The 10 states issuing the highest number of single-family permits combined accounted for 60.6% of the single-family permits issued.
Year-to-date, ending in July 2018, the total number of multifamily permits issued nationwide reached 263,897. This is 6.7% ahead of its level over the first seven months of 2017, 247,391. The preliminary results from the New Residential Construction Survey show an increase of 5.5% in multifamily permits over the first 7 months of 2018 – a total of 265,400 compared to 251,500 for same period in 2017.
Between July 2017 YTD and July 2018 YTD, 32 states recorded growth while 18 states and the District of Columbia recorded a decline in multifamily permits, according to the NAHB. Rhode Island leads the way with a growth rate of 468%, from 25 to 142, while Mississippi had the largest decline of 76.2% from 917 to 218.