Thursday, March 4, 2021

Single-Family Permits Ring In the New Year Strong

 We might have had a rough 2020 with the COVID-19 pandemic and strict stay-at-home orders but the housing market showed no sign of slowing down. The National Association of Home Builders reported a great ending to 2020 for Single-Family Permits. According to the United States Census Building Permits Survey, a total of 977,863 single-family permits were issued year-to-date in the country in 2020. This is a 14.5% increase on a year-over-year basis from December 2019 which reported 854,158.

National Association of Home Builders

The chart shows the amounts for each region. The South had the strongest with a 16.9% increase, Midwest followed with a 13.1% increase, the Northwest had an 11.6% increase and the West showed a 10.5% increase for 2020. Muli-family numbers were all on the decline in all four regions. The worst was the Northeast with a -11.1% decline, followed by the South with a -9.2% decline, the West declined -8.2% and the Midwest -1.2%.

Vermont had the highest rate of growth in single-family permits from 882 in 2019 to 1,285 in 2020. This was a 45.7% increase YTD. Forty-five states all showed an increase while the District of Columbia and five states showed a decline. The top 10 states accounted for 61.5% of the total single-family permits issued in 2020.

At the local level, below are top 10 metro areas that issued the highest number of single-family permits.

Metropolitan Statistical AreaSingle-family Permits: Dec (Units #YTD, NSA)
Houston-The Woodlands-Sugar Land, TX48,208
Dallas-Fort Worth-Arlington, TX43,884
Phoenix-Mesa-Scottsdale, AZ31,724
Atlanta-Sandy Springs-Roswell, GA28,057
Austin-Round Rock, TX21,653
Charlotte-Concord-Gastonia, NC-SC17,807
Tampa-St. Petersburg-Clearwater, FL16,028
Orlando-Kissimmee-Sanford, FL15,523
Nashville-Davidson-Murfreesboro-Franklin, TN14,125
Washington-Arlington-Alexandria, DC-VA-MD-WV13,594

For multifamily permits, below are the top 10 local areas that issued the highest number of permits:

Metropolitan Statistical Area Multifamily Permits: Dec (Units #YTD, NSA)
New York-Newark-Jersey City, NY-NJ-PA42,739
Houston-The Woodlands-Sugar Land, TX20,207
Austin-Round Rock, TX19,222
Los Angeles-Long Beach-Anaheim, CA17,494
Dallas-Fort Worth-Arlington, TX16,178
Phoenix-Mesa-Scottsdale, AZ14,894
Seattle-Tacoma-Bellevue, WA14,752
Miami-Fort Lauderdale-West Palm Beach, FL14,034
Minneapolis-St. Paul-Bloomington, MN-WI11,515
Nashville-Davidson–Murfreesboro–Franklin, TN11,404

Click Here For the Source of the Information.

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