Single-family permits rebound slowly in November

permits
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Over the first eleven months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 791,452. On a year-over-year (YoY) basis, this is a 1.0% decline over the November 2018 level of 799,679, according to NAHB.

Year-to-date ending in November, single-family permits reported declines in three regions and a slight increase in the South. The Northeast reported the steepest decline by 5.0%. The West and Midwest declined by 3.8% and 4.9% respectively, compared to the same time period in 2018. The Northeast region had the highest growth in multifamily (30.1%) while the Midwest recorded the lowest growth in multifamily permits (0.6%) during the last 12 months as housing affordability concerns reduce production of both single-family and multifamily residences.

Between November 2018 YTD and November 2019 YTD, 18 states and the District of Columbia saw growth while 31 states registered a decline. South Dakota recorded no change. The District of Columbia recorded the highest growth rate during this time at 56.7% from 104 to 163, while Montana declined by 21.2%, from 2,504 in 2018 to 1,974 in 2019. The 10 states issuing the highest number of single-family permits combined accounted for 60.7% of the total single-family permits issued.

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Year-to-date, ending in November 2019, the total number of multifamily permits issued nationwide reached 470,070. This is 11.3% ahead of its level over the year 2018, 422,456.

See more at NAHB’s Eye on Housing blog.

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