The National Association of Home Builders reports that the number of multi-family construction permits grew nationally year over year in April, but the amount of single-family permits declined.
Over the first four months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 261,119. On a year-over-year (YoY) basis, this is a 6.5% decline over the April 2018 level of 279,302.
Year-to-date ending in April, single-family permits reported growth only in the Northeast region of the country. The South, Midwest, and the West regions declined by 3.8%, 11.3%, and 12.0% respectively, compared to the same time period in 2018. The Midwest region had the highest growth in multifamily (15.4%) while the West recorded a decline in multifamily permits growth (-9.3%) during the last 12 months.
Advertisement
Related Stories
Sales + Marketing Trends
Brand Loyalty and Why Builders Should Think Like a Hospitality Brand
Whether its offering that personal touch or incorporating experiences into amenity use, home builders have something to learn from the hospitality industry
Innovation
Florida Multifamily Housing Complex Built Using Lego Block–Like System
This patented mineral composite, fiber-reinforced building system stacks Lego-like blocks to create a building solution its creator says is both sustainable and resilient
Affordability
Possible Boost for Affordable Housing in New York City
The developer of New York's Freedom Plaza has added a major affordable housing piece to the project, hoping that will help push through other components of the development
