Single-Family Permits Fell Sharply Throughout 2022
In the first eleven months of 2022, the share of single-family building permits issued year-to-date reached a total of 921,626, down 10.5% year-over-year from the November 2021 total of 1,029,208, NAHB Eye on Housing reports. Single-family permits fell in all four regions, but the West reported the steepest decline of 13.9%.
Between November 2021 YTD and November 2022 YTD, just five states and the District of Columbia saw an uptick in single-family permits issued. On the contrary, multifamily permitting continued to post strong annual gains nationwide in November 2022.
The South posted a decline of 8.4%, while the West region reported the steepest decline of 13.9%. The Northeast declined by 10.2% and the Midwest declined by 13.6% in single-family permits during this time. On the other hand, multifamily permits posted increased in all but one region, Northeast (-1.4%). Permits were 25.2% higher in the South, 18.0% higher in the Midwest, and 5.6% higher in the West.