Compared to the number of active listings, there are 680,000 fewer homes for sale across the country, according to the National Association of Realtors (NAR), but single-family permits issued show heavy construction in store for these 10 markets. Housing starts slowed in April after a booming March, but 46% of metro areas have issued more single-family permits than historical averages. Southern states are picking up construction the fastest: the top 10 markets with the most single-family permits issued are in Texas, Georgia, Florida, and Tennessee. These permits point toward a robust increase in single-family homes over the next 10 to 12 months.
We also identified the areas with the fastest/slowest growth of single-family permits. Since last year, the year-over-year comparisons may look much higher due to the “base effect,” we compare them with the 12-month average in the last 20 years of single-family building permits.
Areas with the fastest/slowest growth of single-family building permits:
In the areas below, the number of single-family building permits is more than twice the number of single-family building permits in the last 20 years.