Over the first three months of 2023, the total number of single-family permits issued year-to-date was 31.1% lower than 2022 levels, according to an analysis by the NAHB. Permit activity declined across all four regions of the country, with the steepest decline in activity occurring in the West (-40.9% year-to-date). Of the five metro areas with the highest number of single-family permits issued, each reported year-to-date declines of at least 20%.
The Northeast posted a decline of 20.5%, while the West region reported the steepest decline of 40.9%. The Midwest declined by 30.2% and the South declined by 28.4% in single-family permits during this time. The South posted an increase of 17.0% in multifamily permits and while the other three regions posted declines.
Between March 2022 YTD and March 2023 YTD, all the states and the District of Columbia reported declines in single-family permits ranging from 0.8% in New Jersey to 67.8% in Montana. The ten states issuing the highest number of single-family permits combined accounted for 65.7% of the total single-family permits issued. Texas, the state with the highest number of single-family permits declined 36.6% in the past 12 months while the next two highest states, Florida and North Carolina declined by 26.1% and 19.3% respectively.
Year-to-date, ending in March, the total number of multifamily permits issued nationwide reached 152,417. This is 0.8% below the March 2022 level of 153,720.
