Single-family permits continue weak pace

Over the first four months of 2019, the total number of single-family permits issued year-to-date nationwide reached 261,119. On a year-over-year basis, this is a 6.5% decline over the April 2018 level of 279,302.

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 12.0% respectively, compared to the same time period in 2018. The Midwest region had the highest growth in multifamily (15.4%) while the West recorded a decline in multifamily permits growth (-9.3%) during the last 12 months.

Between April 2018 YTD and April 2019 YTD, ten 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.

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Read more at NAHB’s Eye on Housing blog.

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