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HomeMacroeconomicsSingle-Family Permits Decline in August 2023

Single-Family Permits Decline in August 2023



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Over the first eight months of 2023, the total number of single-family permits issued year-to-date (YTD) nationwide reached 615,453. On a year-over-year (YoY) basis, this is 15.6% below the August 2022 level of 728,866.

Year-to-date ending in August, single-family permits declined in all four regions. The range of permit decline spanned 10.7% in the Northeast to 21.7% in the West. The South declined by 13.7% and the Midwest declined by 15.4% in single-family permits during this time. For multifamily permits, the percentage decline spanned 8.1% in the South region to 29.1% in the Northeast. The West declined by 12.9% and the Midwest declined by 18.3% in multifamily permits during this time.

Between August 2022 YTD and August 2023 YTD, except for Hawaii (+16.8%) and Maryland (+5.2%), all the other states and the District of Columbia reported declines in single-family permits. The range of declines spanned 4.8% in New Jersey to 50.0% in Alaska. The ten states issuing the highest number of single-family permits combined accounted for 63.9% of the total single-family permits issued. Texas, the state with the highest number of single-family permits issued, declined 16.7% in the past 12 months while the next two highest states, Florida and North Carolina declined by 15.8% and 8.8% respectively.

Year-to-date, ending in August, the total number of multifamily permits issued nationwide reached 394,257. This is 13.6% below the August 2022 level of 456,244.

Between August 2022 YTD and August 2023 YTD, 16 states recorded growth, while 34 states and the District of Columbia recorded a decline in multifamily permits. Delaware (+145.5%) led the way with a sharp rise in multifamily permits from 1220 to 540 while Wyoming had the largest decline of 75.9% from 519 to 125. The ten states issuing the highest number of multifamily permits combined accounted for 64.1% of the multifamily permits issued. Texas, the state with the highest number of multifamily permits issued, declined 19.3% in the past 12 months while the next two highest states, Florida declined by 0.8% and California increased by 7.1%.

At the local level, below are the top ten metro areas that issued the highest number of single-family permits.

Top 10 Largest SF Markets Aug-23 (# of units YTD, NSA) YTD % Change
(compared to Aug-22)
Houston-The Woodlands-Sugar Land, TX                                         34,841 -3%
Dallas-Fort Worth-Arlington, TX                                         28,282 -15%
Atlanta-Sandy Springs-Roswell, GA                                         16,894 -14%
Phoenix-Mesa-Scottsdale, AZ                                         15,889 -27%
Charlotte-Concord-Gastonia, NC-SC                                         12,956 -9%
Orlando-Kissimmee-Sanford, FL                                         11,734 -3%
Austin-Round Rock, TX                                         10,925 -35%
Nashville-Davidson–Murfreesboro–Franklin, TN                                           9,897 -14%
Tampa-St. Petersburg-Clearwater, FL                                           9,578 -17%
Raleigh, NC                                           8,726 -8%

For multifamily permits, below are the top ten local areas that issued the highest number of permits. 

Top 10 Largest MF Markets Aug-23 (# of units YTD, NSA) YTD % Change
(compared to Aug-22)
New York-Newark-Jersey City, NY-NJ-PA                                         21,605 -40%
Dallas-Fort Worth-Arlington, TX                                         17,291 -23%
Houston-The Woodlands-Sugar Land, TX                                         14,057 -22%
Austin-Round Rock, TX                                         13,999 -18%
Los Angeles-Long Beach-Anaheim, CA                                         13,324 -1%
Phoenix-Mesa-Scottsdale, AZ                                         12,688 4%
Miami-Fort Lauderdale-West Palm Beach, FL                                         12,685 41%
Atlanta-Sandy Springs-Roswell, GA                                         11,583 -12%
Washington-Arlington-Alexandria, DC-VA-MD-WV                                           8,669 -31%
Nashville-Davidson–Murfreesboro–Franklin, TN                                           8,388 191%

 



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