Single-family permit activity through the first two months of 2023 was 34.3% below the January and February of 2022. Permit activity slowed by the greatest magnitude in the west, where permit activity was 44.7% lower year-to-date in February 2023 than February 2022, according to an analysis by the NAHB. Of the 10 metros with the largest number of single-family permits issued year-to-date, each represented significant year-over-year declines compared to 2022. Permit activity year-to-date in the Phoenix-Mesa-Scottsdale metro were 60% below 2022 levels and were 52% below 2022 levels in Austin-Round Rock.
Between February 2022 YTD and February 2023 YTD, all the states and the District of Columbia reported declines in single-family permits ranging from 3.8% in New Mexico to 72.8% in Montana. The ten states issuing the highest number of single-family permits combined accounted for 66.3% of the total single-family permits issued. Texas, the state with the highest number of single-family permits declined 40.2% in the last 12 months while the next two highest states, Florida and North Carolina declined by 31.2% and 22.3% respectively.
Between February 2022 YTD and February 2023 YTD, all the states and the District of Columbia reported declines in single-family permits ranging from 3.8% in New Mexico to 72.8% in Montana. The ten states issuing the highest number of single-family permits combined accounted for 66.3% of the total single-family permits issued. Texas, the state with the highest number of single-family permits declined 40.2% in the last 12 months while the next two highest states, Florida and North Carolina declined by 31.2% and 22.3% respectively.
