Over the first seven months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 521,438. On a year-over-year basis, this is a 7% increase over the July 2017 level of 487,495. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first seven months of 2018 was, 522,200 which is 7.5% ahead of its level over the same period of 2017, 485,900.
Year-to-date, single-family permits grew in the Southern and the Western regions of the country, while the Midwest reported no change and Northeast declined by 1.6% compared to July 2017 YTD. Western region had the highest growth in single-family (14.3%) while South recorded the highest multifamily permits growth (15.2%) during the last 12 months.
Between July 2017 YTD and July 2018 YTD, 34 states saw growth in single-family permits issued while 16 states and the District of Columbia registered a decline. Colorado recorded the highest growth rate during this time at 27.6% while single-family permits in the District of Columbia declined by 69.6%, from 217 in 2017 to 66 in 2018.
In the single-family sector, Texas led with 76,144 permits issued year-to-date in July 2018 and Florida came in second with 56,939 during this time. Meanwhile the lowest number came from the District of Columbia with 66 permits. The 10 states issuing the highest number of single-family permits combined accounted for 60.6% of the single-family permits issued.
Year-to-date, ending in July 2018, the total number of multifamily permits issued nationwide reached 263,897. This is 6.7% ahead of its level over the first seven months of 2017, 247,391. The preliminary results from the New Residential Construction Survey show an increase of 5.5% in multifamily permits over the first seven months of 2018, 265,400 compared to the same period of 2017, 251,500.
Between July 2017 YTD and July 2018 YTD, 32 states recorded growth while 18 states and the District of Columbia recorded a decline in multifamily permits. Rhode Island lead the way with a growth rate of 468.0%, from 25 to 142, while Mississippi had the largest decline of 76.2% from 917 to 218.
In the multifamily sector, Texas issued the highest number of multifamily permits year-to-date in July 2018 at 38,743, with California and Florida issuing the second and third most multifamily permits year-to-date, 33,854 and 26,708 respectively. Meanwhile Wyoming issued the lowest number of multifamily permits at 112. The 10 states issuing the highest number of multifamily permits combined accounted for 65.4% of the multifamily permits issued.
