More single-family permits were issued in the first seven months of 2018 than over the same period in 2017, according to new analysis by the National Association of Home Builders.
The annual growth hit seven percent for this year in July, with 521,438 total permits issued. The South and West saw the highest permit growth in the nation; the Western region had the most single-family growth at 14.3 percent, while the South had the most multifamily permit growth at 15.2 percent, per the NAHB. Thirty-four out of the 50 states and Washington, D.C. had single-family permit growth year-to-date from July 2017 to July 2018, and Colorado had the highest growth rate, 27.6 percent. Single-family permits in Washington, D.C. dropped 69.6 percent in that time.
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 percent of the single-family permits issued.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development
