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The Ups and Downs in Single-Family Permits

Single family permits declined year over year according to a recent report. February 2019 data from the National Association of Home Builders (NAHB) indicates a 6.2% decline in single-family permits over the February 2018 level of 123,871.

By region, only the Northeast region of the U.S. experienced an increase in single-family permits, up by 5.7 percent year over year. Meanwhile, South, Midwest, and the West regions declined by 3.1%, 13.0%, and 12.9% respectively. According to the NAHB, multifamily saw higher growth in most regions, especially in the midwest, where multifamily expanded by 44.3%.

By state, 16 states and the District of Columbia saw growth in single-family permits issued while 34 states registered a decline. NAHB notes that D.C. recorded the highest growth rate during this time at 112.5%. According to the NAHB, the 10 states issuing the highest number of single-family permits combined accounted for 64.3% of the total single-family permits issued.

While housing permits are slipping nationally, realtor.com found which cities made up the top 10 markets with the highest number of housing permits for single-family homes, condos and co-ops, apartments, townhomes, and duplexes. According to realtor.com, cities in the South and Southwest, which tend to have “fewer costly and time-consuming building regulations” have seen an increase in residential construction activity.

Dallas tops the list with 63,421 permits, a 2.8 percent increase from a year ago. With big companies flocking to Dallas and “builder-friendly laws and regulations,” Dallas continues to grow. Much of the metro’s new construction is in the $250,000 to $300,000 range.

Houston, Texas, followed Dallas in the No.2 spot with 57,021 housing permits, a notable 33.6 percent rise from a year earlier. However, it is important to note that some of this new construction can be attributed to rebuilds after Hurricane Harvey.

New York, an outlier, claimed the No. 3 spot on the list, followed by Atlanta, Georgia, where permits increased 19 percent up to 39,132. Even with this increase, the researchers say, Atlanta continues to lack sufficient inventory.

About Author: Seth Welborn

Seth Welborn is a Harding University graduate with a degree in English and a minor in writing. He is a contributing writer for MReport. An East Texas Native, he has studied abroad in Athens, Greece and works part-time as a photographer.

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