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.
Advertisement
Related Stories
Single-Family Homes
Single-Family Permits Increased by 26% During March
The total number of single-family permits reached 241,311 year-to-date, with the West seeing the greatest rise
Affordability
Median US Down Payment Falls by More Than $4,000
The recent decrease in costs is welcome relief for homebuyers, but many West Coast markets remain expensive
Single-Family Homes
US Single-Family Housing Inventory Is Up but Still Below Pre-Pandemic Levels
Housing inventory increased by 83% from the record low for the same week in 2021