Over the first seven months of 2019, the total number of single-family permits issued in the US year-to-date nationwide reached 496,726.
On a year-over-year basis, this is a -4.7% decline over the July 2018 level of 521,438.
Year-to-date to July 2019, single-family permits reported declines in all four regions, said the US National Association of Home Builders Eye on Housing Monday.
The Midwest, Northeast, South, and the West declined by 8.7%, 1.6%, 2.8%, and 7.7% respectively, compared to the same time period in 2018. The Southern region had the highest growth in multifamily (9.0%) while the West recorded a decline in multifamily permits growth (-0.8%) during the last 12 months as housing affordability concerns reduce production of both single-family and multifamily residences.
Year-to-date, ending in July 2019, the total number of multifamily permits issued nationwide in the US reached 276,841.
This is +4.9% ahead of its level over the year 2018, 263,897.
Between July 2018 YTD and July 2019 YTD, 29 states and the District of Columbia recorded growth while 21 states recorded a decline in multifamily permits.
The 10 states issuing the highest number of multifamily permits combined accounted for 62.7% of the multifamily permits issued.