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Single-Family and Multifamily Permits on the Rise

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Construction

Single-Family and Multifamily Permits on the Rise

The top 20 markets for new single-family and multifamily construction.


October 21, 2021
Builder working on new home construction
Image: Stock.adobe.com

Despite supply shortages and high market demand in some regions of the United States, metropolitan areas like Houston, Texas and Newark, New Jersey are seeing a substantial increase in single-family and multifamily construction permits.

Home building is making a modest recovery after the 2020 pandemic with construction rates over 130% higher than in 2011, says the NAHB. 

Home construction slowed after 2007 as a result of the 2008 Great Recession, but home building staged a slow, modest recovery over the last decade, with a sharp acceleration in 2020 due to the pandemic.

In 2020, according to the U.S. Census Bureau, builders applied for 979,360 single-family permits, which is 134% higher than the 2011 level of 418,498. For multifamily construction, 491,781 permits were issued in 2020. This is 139% higher than in 2011.

At the state level, Texas takes the top spot as three out of the five largest single-family markets are located in the Lone Star state. 

For a full list of the top 20 markets for single-family and multifamily permits …

Read More

 

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